Liabilities that fall due more than 1 year beyond the balance sheet date are
A)long-term liabilities.
B)delinquent liabilities.
C)current liabilities.
D)risky liabilities.
E)contingent liabilities.

Question

Quizplus · Accepted Answer

Liabilities that fall due more than 1 year beyond the balance sheet date are considered long-term liabilities. Current liabilities, on the other hand, are those that are due within one year. Delinquent, risky, and contingent liabilities do not refer to the time frame of when they are due, but rather their nature and status.

Liabilities That Fall Due More Than 1 Year Beyond the Balance