Problem
Examine the different types of liabilities. For this assignment, compose an essay that answers the following questions:
What are three main characteristics of liabilities, and why is it important to classify liabilities into short-term and long-term? Include examples of short and long-term liabilities in your response.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.