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The answer to the question presented above would be the tragedy of the commons. When individual fishing boats harvest more fish each year in order to maximize profits while, as a result, threatening the fish population with <span>extinction, it is called tragedy of the commons. </span>
A short-term liability is a payment that is due in 12 months or less. Hence notes payable due in six months is reported as a short-term liability.
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What is a liability?</h3>
In the parlance of Accounting and Finance, a Liability is a financial obligation that the company owes to individuals, or organizations with which it has transactional or legal relationship.
Hence, it is correct to indicate that notes payable due in six months is reported as a short-term liability.
Learn more about liability at;
brainly.com/question/14921529
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