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Which one of the following statements is false? A. Violation of a long-term debt covenant...

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Finance

Which one of the following statements is false? A. Violation of a long-term debt covenant does not automatically mean the company must reclassify the debt as current. B. Current liabilities are recorded at their maturity value, and not their present value. C. If a bond is issued at a discount the effective interest rate is lower than the coupon rate. D. Short-term obligations may be classified as long-term if the company intends to refinance them on a long-term basis and can demonstrate the ability to do so.

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