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Meaning of “long-term liability” in the English Dictionary

"long-term liability" in Business English

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long-term liabilitynoun [usually plural]

uk   us   also fixed liability ACCOUNTING, FINANCE
a debt that does not need to be paid for at least a year: Strict rules have been blamed for forcing life insurers to sell shares in order to fund long-term liabilities
(Definition of long-term liability from the Cambridge Business English Dictionary © Cambridge University Press)
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