An example of a long-term liability would be which of the following?

A long-term liability is a financial obligation that is not due to be settled within one year. Mortgages fall into this category as they represent a loan specifically secured by real property and typically have terms that extend over several years, often 15 to 30 years. Due to the nature of mortgages, they are structured for long-term repayment, involving regular payments over a prolonged period.

In contrast, credit card debt, utilities, and short-term loans are classified as current liabilities because they are expected to be settled within a year. Credit card debt can often fluctuate and is usually due in full within a monthly billing cycle. Utilities are typically paid on a monthly basis and do not require long-term payment plans. Short-term loans are specifically defined as being due within a short time frame, usually less than a year. Thus, among the options provided, a mortgage is the most appropriate example of a long-term liability due to its extended repayment timeline and substantial financial commitment.