long-term liability

long-term liability definition - finance
An obligation that wonÂ’t be due for one year or longer or that is beyond the normal operation cycle of the business. Examples of long-term liabilities are mortgages payable, long-term notes, employee pension obligations, and long-term lease liabilities. Balance sheets contain a long-term liability section.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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