The conclusion that can be made from the given fact is that “Terrance has to make home mortgage payments,” which means that he has a long-term liability. Therefore, D is the correct option.
What is liability?
A liability is a term that is used to denote either a loan or an object that has to be paid back to the giver. It usually means a loan taken by a person or company by a bank or any lawfully financial institution. Such loans are paid back with money, goods, or services. In general terms, liability also means an object or a situation that can not pay back the money and amount of financial resources that have been invested or spent upon them.
Thus, the conclusion that can be made from the given facts is that “Terrance has to make home mortgage payments,” which means that he has a long-term liability. Therefore, D is the correct option.
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