Identify a company, business, or organization in your community (it can be one for which you work), and share some examples of current and long-term liabilities for that company.
Your journal entry must be at least 200 words in length. No references or citations are necessary. Attached is unit 7 study guide
Accounts payable – Fresh Mart has to pay its suppliers for the inventory it purchases on credit.
Short-term loans – The company may have taken out loans to cover expenses like payroll or inventory purchases, which need to be repaid within a year.
Accrued expenses – The company has to pay f
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Some examples of long-term liabilities for Fresh Mart include:
Long-term loans – The company may have taken out loans to finance the construction of new stores or to purchase expensive equipment like refrigerators and freezers, which need to be repaid over a longer period of time.
Leases – Fresh Mart may have leased its store locations and equipment like delivery trucks, which require regular payments over several years.
Pension obligations – The company may have promised retirement benefits to its employees, which will require funding over a long period of time.
It’s important for companies like Fresh Mart to manage both their current and long-term liabilities effectively in order to maintain their financial health and sustainability over time.