What term is used to describe liabilities, including long-term and short-term debt?

The term used to describe liabilities, including both long-term and short-term debt, is "Financial Obligations." This term encompasses all forms of debt that a business or individual is required to settle in the future, reflecting the company’s financial liabilities. Financial obligations can include various forms of loans, payables, and other debts, emphasizing the responsibilities owed to creditors.

Understanding why this term is appropriate involves recognizing that 'Financial Obligations' specifically highlights the nature of liabilities, encompassing both the short-term responsibilities that are due within a year and long-term debts that extend beyond one year.

The other terms do not accurately capture this concept: 'Financial Assets' refer to resources owned by an entity that provide future economic benefits, while 'Debt Instruments' specifically denote formal agreements for borrowing that may not cover all liabilities comprehensively. 'Capital Expenditures' relate to long-term investments in physical assets, not the obligations or debts incurred.