Analyzing Current Liabilities

Real World Analysis: A recent annual report of General Motors Company $($GM$)$ reports the following current liabilities.

Current liabilities

$1.$ Accounts payable

$2.$ Short$-$term debt and current portion of long$-$term debt

$3.$ Accrued liabilities

Which of the six items a through f $($or portions thereof$)$ included in the notes to GM$\text{'}$s financial statements do you believe are most likely to be included as part of one of the amounts in GM$$s current liabilities $1$ through $3($on the balance sheet$)?$ For any item$($s$)$ not classified as a current liability, indicate these items as noncurrent liabilities.

ObligationsAnswer $11.$ Accounts payable$2.$ ST debt and current portion of LT debt$3.$ Accrued liabilities$4.$ Noncurrent liabilitiesa. Payrolls $($obligations$)$Answer $21.$ Accounts payable$2.$ ST debt and current portion of LT debt$3.$ Accrued liabilities$4.$ Noncurrent liabilitiesb. Pension liabilityAnswer $31.$ Accounts payable$2.$ ST debt and current portion of LT debt$3.$ Accrued liabilities$4.$ Noncurrent liabilitiesc. Trade accounts payableAnswer $41.$ Accounts payable$2.$ ST debt and current portion of LT debt$3.$ Accrued liabilities$4.$ Noncurrent liabilitiesd. Deposits primarily from rental car companiesAnswer $51.$ Accounts payable$2.$ ST debt and current portion of LT debt$3.$ Accrued liabilities$4.$ Noncurrent liabilitiese. Environmental liabilitiesAnswer $61.$ Accounts payable$2.$ ST debt and current portion of LT debt$3.$ Accrued liabilities$4.$ Noncurrent liabilitiesf. Unsecured debt with terms of one year or less