types of financial liabilities
Long Term Liabilities. Liabilities which are not immediately due but become due after a year or more are classified as long-term liabilities. Long term bank loans like term loans, debentures, deferred tax liabilities, mortgage liabilities (payable after 1 year), lease payments examples of long-term liabilities.
You'll also learn how to estimate these types of liabilities. Retirement as an Estimated Liability Liabilities are obligations that are owed, and while most liability amounts are known, there are some Jan will need to estimate to complete the balance sheet.