Which of the following is NOT a current liability?

Current liabilities are obligations that a company expects to settle within one year or within its operating cycle, whichever is longer. These liabilities are critical for assessing a company's short-term financial health and liquidity.

Accounts payable, short-term loans, and accrued expenses are all examples of current liabilities. Accounts payable involves amounts a company owes to suppliers for goods and services received, which are typically due in the short term. Short-term loans are borrowed funds that must be repaid within one year. Accrued expenses represent costs that have been incurred but not yet paid, such as wages or taxes, and they are also expected to be settled shortly.

Long-term bank notes, on the other hand, represent debt obligations that extend beyond one year. These are typically used to finance long-term assets or investments, which means they do not fall under the category of current liabilities. Understanding the distinction between current and long-term liabilities is essential for analyzing a company’s financial position and liquidity.