Match each term with the correct statement below.
-debts payable over a long time span
A) balance sheet
B) assets
C) current assets
D) fixed assets
E) liabilities
F) current liabilities
G) long-term liabilities
H) owners equity
I) income statement
J) liquidity ratios
K) profitability ratios
L) debt ratios

Question

Quizplus · Accepted Answer

Long-term liabilities are debts or obligations that are due over a period longer than one year, fitting the description of debts payable over a long time span.

Match Each Term with the Correct Statement Below