Accounts Payable may sometimes include non-current or long-term payables in certain circumstances is False
Non-current or long term liabilities are obligations to be paid after 12 months or a operational cycle. It is opposite of current liabilities, where the debts are short-term and its maturing is within twelve months.
Non-current liabilities arises when the company is using long term loans for the business requirements. Businesses may also require to finance the capital expenditure from time to time.
Accounts payable shows that the purchases that are unpaid by the organization . The accounts payable is the most important portion of the current liabilities of the company’s financial statements.
The business rules states that short term obligations shall be fulfilled out by current assets.
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