Which of the following is an example of a long-term liability?
A) accounts payable
B) real estate mortgage
C) accrued expenses
D) current portion of real estate mortgage
E) owners' equity

Question

Quizplus · Accepted Answer

A real estate mortgage is a long-term liability as it typically has a repayment term of over one year. Accounts payable, accrued expenses, and the current portion of a real estate mortgage are all short-term liabilities as they are due within one year. Owners' equity is not a liability at all.

Which of the Following Is an Example of a Long-Term