Question

which of the following is not a long-term liability (A) credit (b) term loan ( c )debenture (D) bank loan ​

Answer 1

Answer:

creditors is the answer of not term liability

Answer 2

which of the following is not a long-term liability (A) credit (b) term loan ( c )debenture (D) bank loan ​

which of the following is not a long-term liability

(A) credit (b) term loan (c) debenture (D) bank loan

The correct answer is :

(A) credit

Explanation :

Credit is not a long-term liability.

Credit does not come under the category of long-term liability. It is a type of facility or trust, which is provided by one party to the other party so that it can pay money or resources in return for the facility or thing taken after a certain period of time. The second party promises not to pay the first party money or resources for a facility or item taken immediately, but to repay that money or resource later. This period is not very long.

The remaining three options are long-term liabilities.

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