Question

The long-term debts of a firm are ______.Group of answer A. liabilities that come due within the next 12 months.B. liabilities that do not come due within the next 12 months.C. liabilities owed to the firm’s suppliers.D. liabilities owed to the firm’s shareholders.E. Liabilities the firm expects to incur within the next 12 months.

Answer 1

The correct answer is letter "B": liabilities that do not come due within the next 12 months.

Step-by-step explanation:

Long-Term Debt is any debt or liability of a company that is due in more than one year (12 months). Long term debt is a category on the balance sheet included in the Liability Section. Commonly considered long-term debt forms are bonds, loan deals, and lease obligations.