Match each of the following terms with the appropriate definitions.
-Obligations of a company requiring payment in more than one year or operating cycle.
A)Long-term liability
B)Warranty
C)FUTA taxes
D)FICA taxes
E)Contingent liability
F)Net pay
G)Withholding allowance
H)Estimated liability
I)Merit rating
J)Wage bracket withholding table

Question

Quizplus · Accepted Answer

Long-term liabilities are financial obligations of a company that are due beyond one year or one operating cycle, whichever is longer. This distinguishes them from short-term liabilities, which are due within a year or an operating cycle.

Match Each of the Following Terms with the Appropriate Definitions