Would you say that a credit card could be considered a long term liability? Because although the credit balance is due every 30 days, you are then given a minimum amount to pay that is able to stretch out over a long period of time and can even extend for years?© BrainMass Inc. brainmass.com June 3, 2020, 11:04 pm ad1c9bdddf
Here is the answer:
We can't say credit card as a long term liability because we take credit ...
This solution discusses credit cards and long-term liability.