Short-term obligations can be reported as long-term liabilities if:

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Short-term obligations can be reported as long-term liabilities if:

A. The firm has a long-term line of credit.
B. The firm has tentative plans to issue long-term bonds.
C. The firm intends to and has the ability to refinance as long-term.
D. The firm has the ability to refinance on a long-term basis.

Answer: C

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