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

Question

Quizplus · Accepted Answer

The current portion of long-term debt refers to the portion of the long-term debt that is due within the current year. Therefore, it should be reclassified as a current liability as it will need to be paid within the short-term.

The Current Portion of Long-Term Debt Should