A line of credit and deferred taxes would be considered which of the following on a contractor's balance sheet?

A line of credit and deferred taxes are classified as long-term liabilities on a contractor's balance sheet because they represent obligations that the contractor is responsible for paying in the future.

A line of credit allows a contractor to borrow money up to a certain limit, and while it can sometimes be used for short-term financing, when it is classified as a long-term liability, it indicates that the contractor does not expect to pay it back in the short run, typically over a period longer than one year.

Deferred taxes arise when a contractor has tax obligations that are recognized on financial statements but are not due to be paid in the immediate future. This creates a liability that is usually settled over a longer duration as tax conditions change and the contractor's earnings generate tax obligations.

Both of these liabilities are essential for understanding the contractor's financial health and future obligations, making them fall under long-term liabilities rather than short-term liabilities, owner’s equity, or current assets.