Obligations that will not become due or payable for at least one year or not within the current operating cycle are known as:

Question

Quizplus · Accepted Answer

Obligations that will not become due or payable for at least one year or not within the current operating cycle are known as long-term liabilities. Short-term liabilities, accounts payable, and accounts receivable are all associated with obligations that will become due or payable within the next year or operating cycle.

Obligations That Will Not Become Due or Payable for at Least