Further Information About Financial Data,accounting Methods,and Financial Statements Is Included

question 133

Multiple Choice

Further information about financial data,accounting methods,and financial statements is included in what part of the annual report?

• A)The balance sheet.
• B)The unaudited condensed quarterly data.
• C)The notes to the financial statements.
• D)The summarized financial data.

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Definitions:

Sales Discounts

A reduction in the price of goods or services sold, offered by the seller as an incentive to buyers.

Cash Flow

The net amount of cash and cash-equivalents being transferred into and out of a business.

Merchandisers

Businesses that purchase goods for resale at a profit, dealing primarily in tangible products that are marketed to consumers or other businesses.

Credit

An accounting entry that increases a liability or equity account, or decreases an asset or expense account; also refers to the provision of resources based on a trust agreement.