A company had $100,000 in short-term debt at December 31, 2019. The company refinanced this liability on a long term basis subsequent to the end of the year but before the financial statements were issued. How should this liability be presented, according to IFRS and US GAAP, in the company's year-end financial statements?

 

Answer rating: 100% (QA)

Heres how the company should present the shortterm debt in its yearend financial statements accordin... View the full answer