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20 May, 18:47

Irfan is a small business entrepreneur who has taken a mortgage loan to finance his business. He needs to repay the loan over a span of 15 years. Which part of Irfan's business's balance sheet would this amount of money be seen?

A.

current assets

B.

fixed assets

C.

current liabilities

D.

long-term liabilities

E.

owners' equity

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Answers (1)
  1. 20 May, 22:38
    0
    D. Long term liabilities

    Explanation:

    In simple terms, Long term debts on balance sheet are those loans and other liabilities, which are not going to come due within a period of 1 year from the time when they are created. In general terms, all the non-current liabilities can be called long-term debts, especially for the purpose of finding financial ratios that are to be used for analyzing the financial health of a company.
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Home » Business » Irfan is a small business entrepreneur who has taken a mortgage loan to finance his business. He needs to repay the loan over a span of 15 years. Which part of Irfan's business's balance sheet would this amount of money be seen? A. current assets B.
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