Which of the Following Is Not Required to Be Disclosed

question 9

Multiple Choice

Which of the following is not required to be disclosed in an entity's accounting policy note?

• A) A description of the entity's key accounting policies.
• B) That the financial statements are general purpose financial statements.
• C) The measurement bases used in the preparation of the financial statements.
• D) That the financial statements have been prepared on the going concern basis.

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Definitions:

Exercise Price

The price at which the holder of an options contract may buy (in the case of a call) or sell (in the case of a put) the relevant security or commodity.

Expiration Date

In finance, the date at which a derivative contract such as an option or futures agreement ceases to exist.

Tax-Exempt Bonds

Bonds issued by government entities that offer interest payments not subject to federal income tax, and in some cases, state and local taxes.

Yield

The income return on an investment, such as the interest or dividends received, expressed as an annual percentage based on the investment's cost, its current market value, or its face value.