Which of the following is not typically included in short-term liabilities?

Short-term liabilities are obligations that a company expects to settle within one year or within its operating cycle, whichever is longer. The correct answer identifies long-term leases as not typically included in short-term liabilities, as they are generally classified as long-term obligations.

Long-term leases represent commitments that extend beyond one year, making them part of the long-term liabilities section of the balance sheet. In contrast, accounts payable, inventory financing, and accrued expenses are all expected to be settled in the short term. Accounts payable arise from purchases made on credit and are usually due within a few months. Inventory financing involves short-term borrowing secured against inventory, and accrued expenses are liabilities for expenses that have been incurred but not yet paid, often due within the operating cycle.

Overall, understanding the classification of liabilities is crucial for analyzing a company's financial position and liquidity, making it clear why long-term leases fall outside the scope of short-term liabilities.