Which of the Following Refers to a Debt That Is

question 98

Multiple Choice

Which of the following refers to a debt that is paid off within a year?

• A) Short-term debt.
• B) Long-term debt.
• C) Liabilities.
• D) Assets.

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Definitions:

Confederal System

A confederal system is a form of government where autonomous states or regions come together to form a loose federation, retaining most of the governance power while delegating limited powers to a central authority.

Articles Of Confederation

The original founding document of the United States that outlined a loose union of the states under a weak federal government, eventually replaced by the U.S. Constitution.

Constitution

The fundamental principles and established precedents according to which a state or other organization is governed, often in the form of a written document.

Preemption

The doctrine that allows a higher level of government to override or prevent actions of a lower level of government in certain areas.