UK Accounting Glossary
Money lent to a business for a fixed period, giving that business a commitment to pay interest for the period specified and to repay the loan at the end of the period Also called non-current liabilities information in the financial statements should show the commercial substance of the situation.
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Definitions for Long-Term Liabilities are sourced/syndicated from:
This glossary post was last updated: 23rd December 2018.