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Which one of the following statement is CORRECT about long term...

This question belongs to Commerce Accounting
Accounting
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Which one of the following statement is CORRECT about long term liabilities?

Answer & Solution
Correct Answer: Option B
Long term liabilities consist of all debts, payabke after 12 months. Long-term liabilities are obligations not due within the next 12 months or within the company's operating cycle if it is longer than one year.
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