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    College Accounting Study Set 5
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    Exam 15: Financial Statements and Year-End Accounting for a Merchandising Business
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    Long-Term Liabilities Are Obligations That Will Extend Beyond One Year
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Long-Term Liabilities Are Obligations That Will Extend Beyond One Year

Question 83

Question 83

True/False

Long-term liabilities are obligations that will extend beyond one year or the normal operating cycle, whichever is longer.

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