1. In order to be classified as a current liability, the liability needs to become due within ________. (is it 30-60 days? )

2. the amount of a note payment due in the next twelve months is called _____.

3. a note due in 2 years with no amortization would be classified on the balance sheet as a _______ liability.

1. A period of 1 year.
2. Account payable.
3. Unsecured liability.

Thank you