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Current liabilities unless the creditor has waived the right to demand repayment for more than 1 year from the balance sheet date.

A. Long-term liabilities

B. Current liabilities unless the debtor goes bankrupt

C. Current liabilities unless the creditor has waived the right to demand repayment for more than1 year from the balance sheet date.

D. Contingent liabilities until the violation is corrected

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Question added by Deleted user
Date Posted: 2015/02/26
Pamela Atienza
by Pamela Atienza , Experienced Audit Assurance , SyCip Gorres Velayo & Co. (a member firm of Ernst & Young Global, Limited)

C. Current liabilities unless the creditor has waived the right to demand repayment for more than1 year from the balance sheet date. (EXPLANATION: Long-term obligations that are or will become callable by the creditor because of the debtor's violation of a provision of the debt agreement at the balance sheet date normally are classified as current liabilities. However, the debt need not be reclassified if the violation will be cured within a specified grace period or if the creditor formally waives or subsequently loses the right to demand repayment for a period of more than a year from the balance sheet date (also, reclassification is not required if the debtor expects and has the ability to refinance the obligation on a long-term basis). )

Syed Arsalan Ghani
by Syed Arsalan Ghani , Saleman marketer , self shopping centre

it's should be repay with one year of payment of agreement and it's the type of debt

Ibrahim Murudkar
by Ibrahim Murudkar , Secretary , Accenture - India

Yes,current liabilities unless the creditor waived the right to demand the repayment for more than one year from the balance sheet

wisdom Jasper
by wisdom Jasper , Cashier And Customer Service Officer , First City monument bank

The creditor has waived or subsequently lost the right to demand repayment for more than one year (or operating cycle, if longer) from the balance sheet ...

JIAUR  REHMAN
by JIAUR REHMAN , Accounts Executive , ELITE ENTERPRISES

Yes liabilities unless tha creditors waived right to demand repayment

Komal Panchal
by Komal Panchal , Salesman , Komal Panchal Financial Services

A creditor is a person, enterprise or bank who has lent money or extended credit to another party

Malik Sarfraz
by Malik Sarfraz , Housekeeping Manger , IHG GROUP

Current or short term liabilities are due liabilities and payable within one year. Long term liabilities are non current liabilities.Its time is payable after 1one year. Contigent liabilities are liabilities that may or may not arise ,depending on certain event.

Ibrahim Sorie Kamara
by Ibrahim Sorie Kamara , Store Tallay Clark , Alrele Clearing and Forwarding

E. Current liabilities unless the debtor goes insane 

Asif Nafees
by Asif Nafees , Computer Operator Cum Cashier , Sequel Technology

Creditors are individuals/businesses that have lent funds to another company and are therefore owed money. By contrast, debtors are individuals/companies that have borrowed funds from a business and therefore owe money

Jivesh Kumar Singh
by Jivesh Kumar Singh , Office Manager , RPS CONSALTANT

Current liabilities unless the creditor has waived the right to demand repayment for more than 1 year from the balance sheet date.

Mekiyu Imamu
by Mekiyu Imamu , Mechanical Engineer , leather industry development institute

Long-term obligations that are or will become callable by the creditor because of the debtor's violation of a provision of the debt agreement at the balance sheet date normally are classified as current liabilities. However, the debt need not be reclassified if the violation will be cured within a specified grace period or if the creditor formally waives or subsequently loses the right to demand repayment for a period of more than a year from the balance sheet date.

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