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:

Intonation

The variation of pitch while speaking, which can affect the meaning, emotion, or emphasis of spoken words.

Ambiguity

The quality of being open to more than one interpretation; lack of definiteness or clarity in meaning.

Intuitive Skill

An ability to understand or know something immediately based on feelings rather than facts, often playing a critical role in rapid decision-making.

Learned Skill

A capability or expertise acquired or enhanced through practice, training, or experience.