Which of the Following Is Not Required to Be Disclosed

question 58

Multiple Choice

Which of the following is not required to be disclosed, pursuant to GAAP?

• A)Operating income or loss from discontinued component reported on the income statement
• B)A description of facts and circumstances leading up to the sale of a discontinued component within the notes of the financial statements
• C)All gains or losses from sale of the component reported on the income statement or in the footnotes
• D)The book values of major component assets and liabilities reported on the balance sheet or in the footnotes
• E)All of these must be disclosed according to GAAP.

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Definitions:

Multinomial Experiment

An experiment that extends binomial trials, allowing for more than two possible outcomes for each trial.

Observed Frequencies

The number of occurrences or instances of data points in specified categories or intervals as collected from experiments or surveys.

Consumer Panel Preferences

Insights or tendencies displayed by a group of consumers, often collected for market research.

Cafes

Retail establishments that primarily serve coffee and tea along with light snacks and sometimes more substantial meals.