long term liability |
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Definition
Obligation payable in goods or services at a future period—more than 12 months away from today or the date of balance sheet. A firm must disclose its long-term liabilities in its balance sheet with their interest rates (or other charges) and date of maturity.
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long term liability is in the Accounting & Auditing and Banking, Commerce & Finance subjects.
long term liability appears in the definition of the following term: long term debt
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