Which of the following would not be classified a long-term liability?
A) Current maturities of long-term debt
B) Bonds payable
C) Mortgage payable
D) Lease liabilities

Question

Quizplus · Accepted Answer

Current maturities of long-term debt are typically short-term liabilities, as they are the portion of the long-term debt that is due within the next year. The other options (B, C, D) are all examples of long-term liabilities.

Which of the Following Would Not Be Classified a Long-Term