Respuesta :
If a producer owed $40,000 on a cow-note after his June 1 payment of $2,000. We would enter both a current liability of $2,000 and noncurrent liability of $40,000 on his balance sheet. This statement is True.
What is noncurrent liability?
A company's non-current liabilities are any debts that aren't due for at least a year. Additionally known as long-term liabilities. Despite the fact that payment may not be required for a year, it's crucial that a company doesn't ignore its non-current liabilities.
Debentures, long-term loans, bonds payable, deferred tax liabilities, long-term leasing commitments, and pension benefit payments are examples of noncurrent liabilities. A bond liability's component that won't be paid off in the coming year is referred to as a noncurrent liability.
Noncurrent Liabilities, on the other hand, are a company's long-term debts that are not due within one fiscal year. Noncurrent Liabilities are resources that a corporation borrows and then has to pay back, whereas Noncurrent Assets are resources that a company owns.
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