Why is the entry to recognize the current portion of long-term debt considered to be a reclassification

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Why is the entry to recognize the current portion of long-term debt considered to be a reclassification entry? Why is this entry important in the context of determining a company’s current ratio?

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Understanding Financial Accounting

ISBN: 978-1118849385

1st Canadian Edition

Authors: Christopher Burnley, Robert Hoskin, Maureen Fizzell, Donald

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Question Posted: Jun 11, 2015 10:22 AM

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Why is the entry to recognize the current portion of long-term debt considered to be a reclassification

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Understanding Financial Accounting

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