Which of the following statements is false?

A. Short-term debt is generally classified as a current liability.

B. Management may never exclude short-term debt from current liabilities.

C. If a company violates a long-term debt agreement and the liability becomes callable by the creditor within one year, the company reports the entire amount of the long-term obligation as a current liability.

D. When a company's board of directions declares a dividend, the company recognizes a current liability if it expects to distribute the dividends with the following year.