A two-year loan payable would be classified as a:

Name: A two-year loan payable would be classified as a:
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Question

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A two-year loan payable falls under the category of non-current liabilities as it is a liability that is due after a year or more from the reporting date. It is not a current asset or current liability as it does not have a maturity date within the next 12 months. It is also not a non-current asset since it represents a liability and not an asset.

A Two-Year Loan Payable Would Be Classified as A