Answer: Current liabilities and long term liabilities
Explanation:
Liability is simply referred to as what is owed by a business or a company. e.g unpaid salaries, etc. Liabilities can be classified as either current liabilities and long term liabilities.
Current liabilities are the liabilities which are for a short period of time and usually paid in that particular year. e.g short term debt.
Long term liabilities are the liabilities which are for a longer period of time which are typically more than a year e.g mortgage payment, car payment etc.
