Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
38% - Moderately

Long-term Liabilities

Synonyms:long-term financial liabilities
Filed Under: financial-banking
Tags: banking

Definition of long-term liabilities

long-term liabilities
1. Money that you owe over a period longer than 12 months, such as mortgages, bank loans and other obligations.

Related Terms and Acronyms:

  • acid-test ratio   A ratio that determines the liquidity of a company without requiring the company to sell assets or inventory.
  • debt   Money one person or firm owes to another person or firm.
  • leverage   The use of a small amount of cash and a large loan to buy something.
  • liabilities   A borrower's debts and legal obligations.
  • loan   Letting another party use something of value temporarily.
  • long term capital gain (LTCG)   Your loss from the sale of a capital asset that you held for more than 12 months.
  • long-term capital loss   Your profit from the sale of a capital asset that you held for more than 12 months.
  • mortgage (mtg)   A mortgage is a contract stipulating a specific real property, typically a residence or building, as collateral for a loan. The mortgage incurs a rate of interest that varies according to term and other features.
  • short-term liabilities   Money that you have to pay in less than 12 months, including wages, short-term loans, taxes, credit card balances and long-term loans.
  • solvency   To be able to meet one's financial liabilities in the short or long term.

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