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In the following reaction
SO2(g)+ H2O(l) H2SO3(aq),
identify the Lewis acid and base.
Long-Term Liabilities
Financial obligations of a business that are due for repayment beyond the current fiscal year, including bonds payable, long-term loans, and lease obligations.
Current Liabilities
Financial obligations that a company is expected to pay within one year, including accounts payable, short-term loans, and other similar debts.
Premium On Bonds
The amount by which the market value or sale price of a bond exceeds its face value, indicating that the bond was sold for more than its original issue price.
Contra Account
An account used in accounting to reduce the value of a related account; it has a balance opposite to the normal account balance.
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