LONG-TERM LIABILITIES Definition

Bookmark and Share

LONG-TERM LIABILITIES are liabilities of a business that are due in more than one year. An example of a long-term liability would be a mortgage payable.

Learn new Accounting Terms

BED and BREAKFAST was an overnight UK tax related maneuver intended to establish a tax loss benefit. Now no longer allowed.

STATUTORY ACCOUNT is an involuntary account, which is created by law rather than by business need. An example of a statutory account would be taxes.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.