Long-term liabilities:
A) Are liabilities arising from future events.
B) Are sometimes reported on the income statement.
C) Are obligations requiring payment within one year or less.
D) Are not recorded until they are paid.
E) Are obligations of a company not requiring payment within one year.

Question

Quizplus · Accepted Answer

Long-term liabilities are obligations of a company that do not require payment within one year. Examples include bonds, notes payable with maturities exceeding one year, and long-term leases.

Long-Term Liabilities