Which of the following is a short-term liability of a corporation?

Question

Quizplus · Accepted Answer

All of the options are short-term liabilities of a corporation. 
Accounts payable are amounts owed to vendors for goods or services purchased on credit. 
Taxes payable are amounts owed to the government for taxes such as sales tax, income tax, or payroll tax. 
Commercial paper is a type of short-term borrowing used by corporations to raise funds for working capital, typically with a maturity of less than a year. Accounts payable, taxes payable, and commercial paper are all examples of short-term liabilities of a corporation. Accounts payable refer to money owed to suppliers or creditors for goods or services received on credit. Taxes payable refer to taxes owed to the government for a period of time, such as income taxes, property taxes, or sales taxes. Commercial paper is a short-term debt instrument used by corporations to raise funds for working capital or other short-term financial needs.

Which of the Following Is a Short-Term Liability of a Corporation