Final answer:
The statement that a refinanced short-term obligation should be disclosed via a footnote in financial statements is true. This ensures transparency regarding the company's debt structure and affects its perceived financial stability and future cash flows.
Step-by-step explanation:
The statement that a short-term obligation excluded from current liabilities because of refinancing should be accompanied by a footnote in the financial statements disclosing the particulars of the refinancing arrangements is true. According to the accounting standards, companies must provide transparency about their financial positions.
Refinancing a short-term obligation extends its maturity, so the obligation is no longer considered a current liability. However, stakeholders still require information regarding the new terms and conditions of the refinancing because it can significantly affect the company's financial stability and future cash flows.
Investors, creditors, and other users of financial statements need to understand the company's debt structure, including any recently refinanced obligations. Indicating such financial moves through a footnote ensures that the company maintains full disclosure, aiding in the assessment of its creditworthiness and liquidity position.