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Can a credit card could be considered a long term liability

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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?

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This solution discusses credit cards and long-term liability.

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Answer:

We can't say credit card as a long term liability because we take credit ...

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  • Bsc, Madras University
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