LONG-TERM LIABILITIES Definition

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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.

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PER CAPITA INCOME is the mean income computed for every man, woman, and child in a particular group. It is derived by dividing the total income of a particular group by the total population in that group.

FRA is Forward Rate Agreement, Financial Responsibility Act, Full Retirement Age (SSA), Fiscal Responsibility Act, Federal Reimbursement Allowance, or Federal Register Act.

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