Which of the Following Is Most Likely Considered an Omission

question 105

Multiple Choice

Which of the following is most likely considered an omission from financial statement reporting?

• A)The company no longer discloses a contingency because it was settled previously.
• B)The company does not present goodwill because it was impaired currently.
• C)The company does not disclose earnings per share because it is privately held.
• D)The company does not present a statement of cash flows because of its current net loss.

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Definitions:

Proposals

In the context of labor negotiations, proposals are offers or plans put forward by either the union or the employer as part of the bargaining process to reach a new contract agreement.

Labor

Work, especially hard physical work, or the workforce involved in this activity.

Bargaining Process

The series of discussions and negotiations between employers and employees (or their representatives) regarding the terms of employment, including wages, hours, and working conditions.

Negotiators' Constituents

The group of people a negotiator represents during discussions or negotiations, whose interests and issues they aim to address and protect.