In this unit, you examine 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.
Your essay must be at least one page in length. Be sure to include an introduction that gives the purpose of
your essay and engages the reader. You must use at least your textbook as a reference, but you may use other
resources as needed. Any information from a resource must be cited and referenced in APA style, and your
essay should be formatted in accordance with APA guidelines.