Miller-Nobles, T., Mattison, B., & Matsumura, E. M. (2016). Horngren's accounting (11th ed.). Boston, MA: Pearson.

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.

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.