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As per accounting standards, what is the meaning of "Short
Term Liabilities and Long Term Liabilities:? As the Company
can change the classification based on their business? Or
these meanings are fixed?
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Answer Posted / teja srinivas
short term liability means those liabilities which are
cleared in one financial period
Long term liability means those liabilities which can't be
cleared in 1 financial year
| Is This Answer Correct ? | 4 Yes | 0 No |
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