long-term debtlong-term debt is a debt obligation, Financial Management

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long-term debtlong-term debt is a debt obligation

Long-Term Debt

Long-term debt is a debt obligation that has a maturity from the date the obligation was incurred of more than one year. The debt obligation commits the organization to repay the amount borrowed and to make daily interest payments through the life of the loan. Failure by the borrower to make the needed payments can result in bankruptcy.

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Financial Management: long-term debtlong-term debt is a debt obligation

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