Which of the following is not true regarding the classification of maturing obligations as current liabili The liability is contractually due within one year after the balance sheet date. The liability is to be paid from assets properly classified as current assets. 4 The obligation can be excluded from current liabilities if it is refinanced on a long-term basis before the balance date. The liability can be excluded from current liabilities if management indicates that they are going to refinance th obligation.

Thich of the following is not true regarding the classification of maturing obligations as current liabil The liability is contractually due within one year after the balance sheet date. The llability is to be paid from assets properly classified as current assets. The obligation can be excluded from current liabilities if it is refinanced on a long-term basis before the balanc date. The liability can be excluded from current liabilities if management indicates that they are going to refinance obligation