Question: What is a long-term liability? What is a long-term liability? None of the choices are correct. A liability that does not need to be paid

What is a long-term liability? What is a long-term liability? None of the choices are correct. A liability that does not need to be paid within one year or within the company's operating cycle, whichever is longer. A liability that does not need to be paid within two years or within the company's operating cycle, whichever is longer. A liability that does not need to be paid within three years or within the company's operating cycle, whichever is longer

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