Is accounts payable a long term liability?

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Is accounts payable always a current liability? Under which circumstances can accounts payable be recorded as a long term liability?

score 0 · Answer 1 · 2012-12-02T16:42:48+00:00

I don’t see how purchases made on credit (which is what accounts payable is) can not be repayable on demand or due to be paid within one year.

Usually, the credit terms give a one to three months period for an invoice to be paid so they should always be a current liability.