Which of the following is an example of a noncurrent liability?

A noncurrent liability is a financial obligation that is due beyond one year from the date of the balance sheet. In this case, notes payable long term represents a liability that a company is expected to pay off beyond the next year. This makes it a noncurrent liability, as it is not due in the short term and typically involves financing or loans that extend over several years.

The classification of liabilities into current and noncurrent helps users of financial statements understand the company’s obligations and assess its liquidity. Noncurrent liabilities are often important for understanding a company's long-term financial health and strategies, especially as they can influence decisions related to investments, financing, and growth.