The portion of long-term debt due within one year should:
A) be classified as a long-term liability.
B) not be separated from the long-term portion of debt.
C) be paid immediately.
D) be reclassified as a current liability.

Question

Quizplus · Accepted Answer

Long-term debt due within one year should be reclassified as a current liability as it is expected to be paid off within the next year. This helps to give an accurate picture of the company's short-term obligations and financial health.

The Portion of Long-Term Debt Due Within One Year Should