Final answer:
Bonds payable that are due in 5 years is the correct answer as this reflects a long-term liability, which is an obligation due more than one year in the future.
Step-by-step explanation:
The student asked which of the following is a long-term liability:
- Property, plant and equipment that will be used in operations over 4 years.
- Bonds payable that are due in 5 years.
- A patent that gives exclusive rights over 7 years.
- Land that will be sold in 3 months.
Among these options, the bonds payable that are due in 5 years represent a long-term liability. Long-term liabilities are obligations that are due more than one year in the future. In contrast, property, plant, and equipment are considered long-term assets, a patent is an intangible asset, and land to be sold shortly would be classified as either a current asset or long-term investment depending on the business's intention.