what are the key characteristics of a long-term liability?

a. a long-term liability is one that will be paid or the service will be provided no longer than 30 days from the date of the balance sheet

b. a long-term liability is one that will be paid or the service will be provided no longer than one year from the date of the balance sheet

c. a long-term liability is one that will be paid or the service will be provided no longer than 90 days from the date of the balance sheet

d. a long-term liability is one that will be paid or the service will be provided after one year of the balance sheet date or outside of the current operating cycle of the business, whichever is longer