15. The liability for bond anticipation page 264 notes (BANS) a. Should always be treated as a long-term liability. b. Should always be treated as a short-term liability. c. Should be treated as a long-term liability if all legal steps have been taken to refinance the BANS and the intent is supported by an ability to consummate refinancing the short- term notes on a long-term basis. d. Should be treated as a long-term liability when voters have approved issuance of the bonds to repay the BANs.