Student loans,car loans,and housing loans are good examples of

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Long-term liabilities refer to debts or financial obligations that are due beyond one year or operating cycle. Student loans, car loans, and housing loans are long-term liabilities since they typically extend several years into the future, with repayment schedules ranging between five and thirty years. These loans are often secured by collaterals such as the vehicle or the house itself, which makes it easier to secure the loan and lowers the interest rates charged.

Student Loans,car Loans,and Housing Loans Are Good Examples of