Changes

Examples of long term debt are bonds payable, and some long term notes. However, any portion of long term debt that is due within one year is shown separately as such on a balance sheet. Liabilities are part of the fundamental accounting equation: Assets - Liabilities = ''Net worth''.

Examples of long term debt are bonds payable, and some long term notes. However, any portion of long term debt that is due within one year is shown separately as such on a balance sheet. Liabilities are part of the fundamental accounting equation: Assets - Liabilities = ''Net worth''.

[[Category: Accounting terms]]

[[Category:Accounting Terms]]