LONG-TERM Definition

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LONG-TERM is a long period of time. In securities, for a bond it is 10 or more years or as it relates to a buy and hold investment strategy. In accounting, it is thought of as being in excess of 12 months, e.g. long-term liabilities. See SHORT-TERM.

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CASH BILL is a documented receipt of cash payment as opposed to an invoice or promise to pay.

FINANCIAL GUARANTEE INSURANCE is insurance created to cover losses from specified financial transactions.

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