Which line item(s)on the above balance sheet would be classified as long term?
A)Cash; Supplies; Accounts Payable.
B)Property,Plant and Equipment; Notes payable
C)Supplies; Property,Plant and Equipment; Notes Payable.
D)Contributed Capital; Total Liabilities; Accounts Receviable.

Question

Quizplus · Accepted Answer

Long term items on a balance sheet are generally those that have a maturity period of more than 12 months. Property, Plant, and Equipment and Notes Payable are both examples of long term items, as they represent assets and liabilities that will not be converted to cash or paid off within a year.

Which Line Item(s)on the Above Balance Sheet Would Be Classified