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4. Which of the following statements islare correct? 1. A new automobile loan for 60 months is an example of a long-term liability. 2. Unpaid

4. Which of the following statements islare correct? 1. A new automobile loan for 60 months is an example of a long-term liability. 2. Unpaid taxes are an example of a longterm liability. a. 1 only. b. 2 only. c. Both 1 and 2. (1. Neither 1 not 2

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