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As Liabilities include four Types of Liabilities (i) Current Liabilities (ii) N on Current Liabilities , Contingent Liabilities and Deferred Liabilities , so these are shown in the classified form in the B alance Sheet . (i) Current Liabilities Lists A list of current liabilities in accounting include Accounts Payable / Creditors, Unearned Income or Income Received In Advance, Outstanding Expenses / Expenses Payable. (ii) Long-term Liabilities Lists B ank Loans, Outstanding Finance Lease, Pension Payments Payable (iii) Contingent Liabilities Lists Lawsuit Case in which contingent liability arises as a result of losing the case. (iv) Deferred Liabilities Lists   Deferred Revenues Such as Fees received in adva nce

Here we discuss about Long-Ter m Liabilities Definition And Their Examples. Previously we discussed about   Current Liabilities And Their Examples . Long-Term Liabilities Long-Term Liabilities are those Liabilities that having life more than one year or that mature more than one year. Long-Term Liabilities arise from the acquisition of Major Expenditures. For Example, Purchase of Land From Loan, Purchase of Buildings From Bank Loan, Purchase of Another Company, etc. Business Transactions related to Long-Term Liabilities are occurred very few in number in the life of company businesses. Examples of Long-Term Liabilities 1. Bank Loans Entrepreneurs get personal loans from banks for starting small businesses and theses loans mature more than one year or expires after the accounting cycle of the business. There are many examples of getting personal loans from banks by small business owners to start their business. 2. Long Term Debts All th...