A company has lony$-$term debt presented in the balance sheet. Which of the options is not a

misstatement related to the recorded debt?

Current maturities of the debt are classified as current liabilities in the balance sheet

versus included in the balance of long$-$term debt.

The terms of long$-$term debt $($e$.$g$.,$ maturities, interest rates$)$ are omitted from the F$/$S

footnotes.

Interest payable on long$-$term debt at the balance sheet date was calculated using the

company's average borrowing rate for past five years.

Payments made during the year to satisfy debt obligations were debited to accounts

payable in the accounting records.