Which of the following statements is not true?

a.If a company violates a long-term debt agreement and the liability becomes callable by the creditor within 1 year, the company reports the entire amount of the long-term obligation as a current liability.

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

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

d.When a company's board of directors declares a dividend, the company recognizes a current liability if it expects to distribute the dividends within the following year.