MANAGEMENT

Detailed explanation-1: -Key Takeaways. Noncurrent liabilities, also known as long-term liabilities, are obligations listed on the balance sheet not due for more than a year. Various ratios using noncurrent liabilities are used to assess a company’s leverage, such as debt-to-assets and debt-to-capital.

Detailed explanation-2: -Financial Accounting for Long-Term Debt The debt is considered a liability on the balance sheet, of which the portion due within a year is a short term liability and the remainder is considered a long term liability.

Detailed explanation-3: -Current liabilities are the debts that a business expects to pay within 12 months while non-current liabilities are longer term. Both current and non-current liabilities are reported on the balance sheet. Non-current liabilities may also be called long-term liabilities.

Detailed explanation-4: -Non-current liabilities examples are long-term loans and leases, lines of credit, and deferred tax liabilities.

Detailed explanation-5: -Some of the examples of current liabilities include accounts payables, short-term loans, trade payables, and outstanding dues. Debentures, mortgage loans, and bonds are some of the non-current liabilities examples.