Borrowed funds that are to be repaid in a year or more are referred to as ________.

Name: Borrowed funds that are to be repaid in a year or more are referred to as ________.
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Long-term debt refers to borrowed funds that have a repayment period of more than a year. This is distinguished from short-term debt, which has a repayment period of a year or less. Choice A (annual debt) is not a common accounting term, and choices C (loanable funds) and D (stockholders' equity) are unrelated to borrowed funds.

Borrowed Funds That Are to Be Repaid in a Year