Question: 1 . Short - term debt expected to be refinanced may be classified as long - term if there is ability to refinance ( True

1. Short-term debt expected to be refinanced may be classified as long-term if there is ability to refinance (True or False)?2. Obligations that are due on demand should be classified as current liabilities, even though liquidation of the liabilities is not expected within the next year or operating cycle, whichever is longer. (True or False)?

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