What is an example of a long term liability?

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asked Jun 13, 2017 164k views

2 Answers

Andrea Bergia · Answer 1 · 2017-06-20T01:51:30+0000

Answer: A mortgage.

Step-by-step explanation: A liability is something you're reliable for. You're supposed to pay back a mortgage, although this could take many years. Therefore, a long term liability is a mortgage.

What is an example of a long term liability?

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