What are the various types of long term liabilities? Name them.

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter8: Current And Contingent Liabilities
Section: Chapter Questions
Problem 3DQ
icon
Related questions
Question

What are the various types of long term liabilities? Name them.

Expert Solution
Step 1

Liabilities: The claims creditors have over assets or resources of a company are referred to as liabilities. These are the debt obligations owed by company to creditors. Liabilities are classified on the balance sheet as current liabilities and long-term liabilities.

 

steps

Step by step

Solved in 2 steps

Blurred answer