What Is NOT a Major Short- Term Liability

question 12

Multiple Choice

What is NOT a major short- term liability?

• A) Payments to suppliers
• B) Paying rent on the space
• C) Employee wages

---

Definitions:

Marginal Cost

The additional cost incurred by producing one more unit of a good or service.

Marginal Benefit

The additional benefit derived from producing one more unit of a good or service.

Accounting Profit

The total revenue of a business minus its explicit costs; essentially the net income reported on the financial statements.

Economic Profit

The difference between the total revenue received by a business and the total costs, including both explicit and implicit costs.