Two kinds of noncurrent liabilities are
A)deferred liabilities and rescheduled obligations.
B)bills payable and credit card balances due.
C)co-signor agreements and bankruptcy judgments.
D)noncurrent portions of loans with repayment schedules and loans without repayment schedules.

Question

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Noncurrent liabilities are those that do not need to be paid within the next year. Two types of noncurrent liabilities are loans with repayment schedules that extend beyond the coming year and loans without repayment schedules. Bills payable and credit card balances due are current liabilities, while deferred liabilities and rescheduled obligations are not recognized by generally accepted accounting principles. Co-signor agreements and bankruptcy judgments may result in a liability but are not types of noncurrent liabilities.

Two Kinds of Noncurrent Liabilities Are