Long-term liabilities generally include:
A) liabilities related to long-term assets.
B) accounts payable, because they are interest-bearing.
C) obligations that extend beyond one year.
D) accrued expenses.

Question

Quizplus · Accepted Answer

Long-term liabilities are obligations that extend beyond one year. This can include loans, bonds, and other financial obligations that will not be paid off within the next year. Choices A, B, and D are not correct as they do not fully encompass all types of long-term liabilities.

Long-Term Liabilities Generally Include