Long-Term Liability

Long-Term Debt or Long-Term Liability
Long-term debt, also known as long-term liability, refers to loans and financial obligations that are due in more than a year. These obligations often include bonds and notes payable, with periodic interest payments and the principal due upon maturity.
Long-Term Liability
Long-term liabilities are financial obligations of a company that are due more than one year in the future. Examples include bonds payable, long-term loans, and lease obligations.

Accounting Terms Lexicon

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