Long-term liabilities, also known as non-current liabilities, are financial obligations of a company that are due beyond one year or the operating cycle, whichever is longer. These liabilities include bonds payable, long-term loans, lease obligations, and pension liabilities. The long-term liabilities definition is crucial for assessing a company’s financial health and its ability to meet future obligations. Understanding these liabilities helps in evaluating the company’s long-term financial stability.
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