Long term liabilities include all of the following except
A) the amount due on a credit card.
B) the mortgage on a home.
C) three year car loan.
D) a student loan.

Question

Quizplus · Accepted Answer

Long term liabilities are debts or financial obligations that are due beyond one year or beyond the current operating cycle of a business. A credit card debt is typically considered a short-term liability as it is usually due within a year. The other options, mortgage, car loan, and student loan, are all examples of long-term liabilities.

Long Term Liabilities Include All of the Following Except