Which of the following statements is/ are correct? 1. A new automobile loan for 60 months is an example of a long-term liability 2. Unpaid taxes are an example of a long-term liabiliry a. 1 only. b. 2 only. c. Both 1 and 2. d. Neither 1 nor 2 Which of the following statements is/ are correct? 1. A new automobile loan for 60 months is an example of a long-term liability 2. Unpaid taxes are an example of a long-term liabiliry a. 1 only. b. 2 only. c. Both 1 and 2. d. Neither 1 nor 2