Understanding Business with Connect Access Card
Understanding Business with Connect Access Card
12th Edition
ISBN: 9781260277142
Author: William Nickels, James McHugh, Susan McHugh
Publisher: McGraw-Hill Education
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Chapter 17.3, Problem 7TP
Summary Introduction

To discuss: The difference between long term and short-term liabilities in the balance sheet.

Introduction: Balance sheet is a financial statement where the sources of funds and application of funds are mentioned on either side.

Liabilities are the debts payable by the company in the ordinary course of business.

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