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Aziza sets a goal of getting a 4.0 in her history class,whereas Edward,who is in the same class,sets a goal of studying 2 hours per night for the course.Which of the following accurately describes these goals?
Unsecured Liabilities
Obligations or debts that are not protected by collateral, meaning the lender does not have claims on specific assets of the borrower if the debt is not repaid.
Non-Priority
A designation for debts or considerations that are deemed less important and hence are lower in the order of settlement or attention compared to priority ones.
Total Liabilities
The sum of all financial obligations (debts) owed by a company to external parties, recorded on its balance sheet.
Unsecured
Refers to loans or debts that are not backed by collateral, relying on the borrower's creditworthiness instead.
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