Based off the provided information, is my response considered acceptable? do I need to re word something, add quotes, or a link?

Professor Forde,

Assests and liabilities arelikeone another regarding business's financial statements.Assests normally reflects what a company owns,liabilities reflect what a company owes.Assests and liabilities are both broken down into twocategories, current and long-term.A current assetcanbe turned into cash within a year,a long-term asset is the opposite, it cannot be turned into cash easily within a year. An example of a currentassetwould beinventory or supplies, while an example of long-term would-be property.Like current assets, current liabilities are capable of being paid within a year, long-term liabilities would not be payable within a year.An example of current liabilities would be salaries and wages, and long-term liabilities would bea mortgage. It is important to differentiateif assets and liabilities arecurrentorlong-term; becausecompaniesuse this information toprovethat theycan pay their current liabilitiesand lenders use this information to decide if they will lend a business money.