Question
Please check if I did it right. Thanks! Halifax Corp. has a December 31 fiscal year-end. The company will release its financial statements for the
Please check if I did it right. Thanks!
Halifax Corp. has a December 31 fiscal year-end. The company will release its financial statements for the fiscal year 2015 on March 15th, 2016. A 10-year note payable to Nova Scotia Bank is becoming due on June 30th, 2016. On January 20th, 2016, the company has reached an agreement with the bank to refinance the note.
The company can classify the 10-year note payable as a long-term liability under IFRS.
True_____ False _____
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Financial Accounting
Authors: Charles T. Horngren, Jr. Harrison, Walter T.
2nd Edition
0133118207, 978-0133118209
