long-term liability UK US noun [usually plural] (also fixed liability) ACCOUNTING, FINANCE
► a debt that does not need to be paid for at least a year: »
Strict rules have been blamed for forcing life insurers to sell shares in order to fund long-term liabilities
→ Compare CURRENT LIABILITY(Cf. ↑current liability), NON-CURRENT LIABILITY(Cf. ↑non-current liability)
Financial and business terms. 2012.