Which of the following is an example of long-term liabilities?

Bonds payable are classified as long-term liabilities because they represent funds borrowed by a company that must be repaid over a longer time frame, typically exceeding one year. When a company issues bonds, it receives cash from investors and is obligated to pay back that amount, plus interest, at specified future dates. This classification is significant for financial analysis because long-term liabilities affect a company's capital structure and financial health, indicating how much leverage the company is using and its ability to meet long-term obligations.

In contrast, accounts payable and accrued expenses are considered current liabilities, as they are expected to be settled within a year. Notes payable can be either short-term or long-term depending on the maturity of the note, but in many contexts, they are also seen as part of current liabilities if they are due within a year. Hence, bonds payable distinctly categorize as long-term obligations, making them the correct example in this case.