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The liability which will be payable after one year that's called Long Term Liability but which is due with in one year that's called Short Term Liability
long term liabilities are generally considered to be those debts that will not mature for over a year.
short term liabilities are generally considered to be those obligations that come due within the year.
Long term Liabilities >1 year
Short term Liabilities <1year
long term liability is for more than12 months period whereas short term liability is for12 months period
agree with friends..........................
Short term liability will be settled with in1 year & long term liability will be settled more than1 year
long term liability are those liability that take more than one calendar year while short term take less than a year