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Can an entity classify a liability or debt as a long term liability regardless of its maturity time?

Accounting
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Question added by Ghulam Mustafa , Finance Manager , Al Hamli Group of Companies
Date Posted: 2013/11/25
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Mohammed Salim Allana
by Mohammed Salim Allana , Compliance and Assurance Manager , United Arab Bank

No, the tenure of the debt is to be ascertained (5 to10 years) otherwise it would be due for repayment under call (next day).

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