Which of the following is not a condition necessary to exclude a short-term obligation from current liabilities? Select one: a. Conditional right to defer settlement of the liability for at least 12 months. b. Unconditional right to defer settlement of the liability for at least 12 months. c. Intend to refinance the obligation on a long-term basis. d. Obligation must be due within one year or one operating cycle, whichever is longer.