Long-term debt can be described as:
A) debt that is not payable within one year; usually loans maturing in a three- to five-year range that are used to finance the purchase of property or equipment
B) debt that is payable within one year; usually loans maturing at the end of two months
C) debt that is not required to be paid back,as it is a source of finance from the family
D) a source of debt from a shareholder who does not need paying back
Correct Answer:
Verified
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