Which of the Following Should Be Disclosed in a Summary

question 50

Multiple Choice

Which of the following should be disclosed in a Summary of Significant Accounting Policies?

• A) Depreciation method followed
• B) Types of executory contracts
• C) Claims of equity holders
• D) Amount for cumulative effect of change in accounting principle

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Definitions:

Responsible Corporate Officer Doctrine

A common law doctrine under which the court may impose criminal liability on a corporate officer for actions of employees under her or his supervision regardless of whether she or he participated in, directed, or even knew about those actions.

Criminal Vicarious Liability Doctrine

A legal principle holding one person or entity responsible for the criminal actions of another, typically in an employer-employee relationship.

Corporate Criminal Doctrine

A legal theory that attributes criminal liability to corporations and their executives for acts that are illegal under the law, acknowledging that entities can be responsible for criminal behavior.

Deadly Force

Force that is likely to cause death or serious bodily harm, often discussed in the context of law enforcement or self-defense.