Coulson company is in the process of refinancing some long-term debt. its fiscal year ends on december 31, 2018, and its financial statements will be issued on march 15, 2019. under current u. s. gaap, how would the debt be classified if the refinancing is completed on december 15, 2018? what if instead it is completed on january 15, 2019?

China's new 5 percent tax on disposable wooden chopsticks, reflecting concerns about deforestation, has been praised by environmentalists. the move is hitting hard at the japanese, who consume 25 billion set of wooden chopsticks annually. almost all of the chopsticks used in japan come from china. the reuirements for chinese manufacturers of wooden chopsticks to pay the 5 percent tax is a factor in their external environment.