A 30-year mortgage loan is a
A)Long-Term Liability.
B)Current Liability.
C)Current Asset.
D)Long-Term Asset.

Name: A 30-year mortgage loan is a A)Long-Term Liability. B)Current Liability. C)Current Asset. D)Long-Term Asset.
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Question

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A 30-year mortgage loan is a type of loan taken on by individuals or businesses to purchase a property, but it usually takes 30 years to repay the loan. As the loan repayment period is long-term, it is considered a long-term liability.

A 30-Year Mortgage Loan Is a