Which of the following should be excluded from long-term liabilities?
A) Obligations payable at some date beyond the operating cycle.
B) Most pension obligations.
C) Long-term liabilities that mature within the operating cycle and will be paid from a sinking fund.
D) Obligations payable at some date within the operating cycle.

Question

Quizplus · Accepted Answer

Long-term liabilities that mature within the operating cycle should be included in current liabilities, therefore the option D - "Obligations payable at some date within the operating cycle" should be excluded from long-term liabilities.

Which of the Following Should Be Excluded from Long-Term Liabilities