Long-term liabilities are generally divided between two categories.What are these categories?

Question

Quizplus · Accepted Answer

Long-term liabilities are generally divided between bank borrowings and bonds. Bank borrowings are loans from banks that have a maturity of more than one year, while bonds are long-term debt securities issued by companies, governments, or other organizations to raise capital. Other categories, such as private borrowings or bank loans, may be subsets of bank borrowings and do not constitute a separate category of long-term liabilities. Similarly, public and private bonds refer to the type of issuer rather than a distinct category of long-term liabilities.

Long-Term Liabilities Are Generally Divided Between Two Categories