Which of the following is considered a noncurrent liability?

Bonds are considered noncurrent liabilities because they represent a long-term financial obligation that a company must repay, typically over a period longer than one year. These are often issued to raise capital for various purposes, such as funding new projects or refinancing existing debt. The terms of bond repayment usually extend several years, which places them firmly in the category of noncurrent liabilities.

In contrast, accrued wages and taxes payable are short-term liabilities that are typically expected to be settled within a year. Severance pay, while it may sometimes involve long-term commitments depending on the terms of employment contracts, is generally accounted for as a current liability until it is due, unless it relates to an obligation that extends beyond one year. Thus, the defining characteristic of bonds as a long-term obligation makes them the correct choice for identifying a noncurrent liability.