long term debt

Popular Terms
Amount owed for a period exceeding 12 months from the date of the balance sheet. It could be in the form of a bank loan, mortgage bonds, debenture, or other obligations not due for one year. A firm must disclose its long-term debt in its balance sheet with its interest rate and date of maturity. Amount of long-term debt is a measure of a firm's leverage, and is distinguished from long term liabilities which may include supply of services already paid for.

Use 'long term debt' in a Sentence

We had to ay off some of our long term debt, or we would find ourselves in a pretty bad position economically.
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You should try to make sure that you do not take on any long term debt that you may not be able to pay off.
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When Carol and Tom decided to try the housing market for a new home, they knew part of the process involved repaying long term debt to the mortgage company.
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