Adaeze, a sole trader, had the following balances: Capital ₦500,000; Long-term loan ₦100,000; Trade creditors ₦80,000; Accrued expenses ₦20,000. What is the total of her long-term liabilities?

Long-term liabilities are obligations due for repayment beyond one year. Only the long-term loan of ₦100,000 qualifies as a long-term liability. Trade creditors and accrued expenses are current liabilities, while capital is the owner's equity, not a liability in the traditional sense.