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| Hope Corporation prepares its financial statements in accordance with IFRS. Hope intends to refinance a $500,000 note payable due on March 1, year 2. The company expects the note to be refinanced for a period of five years. Under what circumstances can Hope report the note payable as a noncurrent liability on its December 31, year 1 statement of financial position? A. If Hope has the intent and ability to refinance before December 31, year 1. B. If Hope has the intent and ability to refinance before the issuance of the financial statements on March 31, year 2. C. If Hope has executed an agreement to refinance by December 31, year 1. D. If Hope has executed an agreement to refinance prior to the issuance of the financial statements on March 31, year 2. |