Question

Loan from bank long term liabilities?

Answer 1

Answer:

Long-term liabilities, or non-current liabilities, are liabilities that are due beyond a year or the normal operation period of the company. The normal operation period is the amount of time it takes for a company to turn inventory into cash. On a classified balance sheet, liabilities are separated between current and long-term liabilities to help users assess the company's financial standing in short-term and long-term periods.

Explanation:

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Answer 2

Answer:

$\boxed{\red{\text{If the bank loan is due within the <strong>next 12 months,</strong> it will be ALL considered a Current Liability. If a portion of the principal is due within the next 12 months, that portion is usually referred to as a current maturity of long-term debt.}}}$