The purpose of reporting current maturities of long-term debt is to: a. report any portion of a long-term borrowing that is to be paid in the upcoming accounting period as a current liability.
b. reclassify a portion of debt from the noncurrent section of the balance sheet to the current section of the balance sheet.
c. properly classify liabilities.
d. all of the above.

Correct option is (d)

Explanation:

Current liabilities are part of obligations of the organization that it needs to meet within one year. Current maturities of long term debt represents that part of long term debt such a bonds or loans that need to be paid of in the current financial year.

It is shown as a separate item in the balance sheet as it is paid off using highly liquid asset such as cash.

forbearance of student loan payments. under forbearance, your loan payments are postponed (or reduced) but interest continues to accrue during the period of forbearance. if you don't pay the interest during that period, the interest may be “capitalized,” which means it is added to your principal balance.

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