Common long term liabilities include:

Name: Common long term liabilities include:
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Long term liabilities are obligations that are due beyond one year from the date of the financial statement. Educational loans are a typical example of long-term liabilities as they are usually paid back over a number of years. Medical bills, insurance premiums, and charge accounts are typically short-term liabilities, which are usually paid back within one year. Therefore, only option A is a long-term liability.

Common Long Term Liabilities Include