How would you evaluate the following statement A note payable with an original maturity of five years will be classified on the balance sheet as a long term liability until it matures ...

The note payable will be classified on the balance sheet as longterm until one ...

How would you evaluate the following statement: A note payable with an original maturity of five years

Question:

How would you evaluate the following statement: A note payable with an original of five years will be classified on the as a long-term liability until it matures?

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...