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For USA GAAP reporters, short-term debt can be refinanced as long-term when the company intends to refinance on a long-term basis and the company can:

For USA GAAP reporters, short-term debt can be refinanced as long-term when the company intends to refinance on a long-term basis and the company can:

Select one:

a.complete the arrangement before financial statements are completed

b.pay-off the note by the day the financial statements are completed

c.do so before the balance sheet date

d.demonstrate the ability to consummate the refinancing

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