The current portion of long-term debt 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

The current portion of long-term debt represents the amount of a company's long-term debt that is due within the next 12 months. Therefore, it should be reclassified as a current liability in a company's balance sheet.

The Current Portion of Long-Term Debt Should