Dear Asma
A C and D are all futuristic events/preparations for thr future. As of 'the time of the event of the question' only B is below 1 year and hence B is the answer
------------------------------
Mustaq Khatri
Director/Manager
Dubai
United Arab Emirates
------------------------------
Original Message:
Sent: 08-07-2020 12:47 PM
From: Asmaa Mohamed Salah Mahmoud Mostafa
Subject: Unit 1 Question
Hello everyone can anyone help me understanding this Question ( An easy and simple way please )
Non current debt should be included in the current section of the statement of financial position if
A. Management plans to refinance it within the year.
B. It matures within the year and will be retired through the use of current assets.
C. A bond retirement fund has been set up for use in its scheduled retirement during the next year.
D. It is to be converted into common stock before maturity.
The answer is B
------------------------------
Asmaa Mohamed
------------------------------