Long-term liabilities are another way to gauge how healthy an organization will be in the future. This, too, gives organizations reason to carefully manipulate these on their balance sheets. GAAP dictates that these liabilities must be fully disclosed. What are the long-term liabilities for your chosen companies?
With these thoughts in mind:
Write by Day 3 at least 200 words answering the following questions:
Review the balance sheets and related disclosures of the companies that you identified in the Week 1 Discussion. Discuss the type of long-term liabilities each company is carrying on its books. Do the types of long-term liabilities listed make sense from your perspective?
Discuss the similarities and differences between the characteristics of bonds payable and long-term notes payable. Are there benefits to having one of these over the other on a balance sheet? Why or why not?

General Motors (2016) General Motors Form 10K for the year 2016 retrieved September6, 2017 from https://www.gm.com/content/dam/gm/en_us/english/Group4/InvestorsPDFDocuments/10-K.pdf
Microsoft Corporation (2016) Microsoft Corporation Form 10K for the year 2016 retrieved September6, 2017 from https://www.sec.gov/Archives/edgar/data/789019/000119312516662209/d187868d10k.htm

Sample Solution