Question

Which of the following is not an example of a long-term liability?

Q: Answer-Which of the following is not an example of a long-term liability?

Explanation Long-term liabilities are debts that are due more than one year from the date of the financial statement. Accounts payable is a short-term liability.

A Bonds payable

B Mortgages payable

C Accounts payable

D Notes payable

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Which of the following is not an example of a long-term liability?

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