Significant Accounting Policies Are Described in the Notes to the Financial

question 19

Multiple Choice

Significant accounting policies are described in the notes to the financial statements because:

• A)there isn't enough space for them to be included in the captions of the financial statements.
• B)if the accrual basis of accounting is used, "matching" of revenues and expenses may not take place.
• C)the reader must be aware of which of the alternative generally accepted accounting practices have been used.
• D)details concerning the reporting entity's accounting information system and data processing methods must be disclosed.

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Definitions:

Dietary Needs

Specific nutritional requirements or restrictions for an individual, often based on health, ethical, or religious reasons.

Chronic Disease

A long-term health condition that is persistent and typically requires ongoing medical attention or limits activities of daily living.

Chronic Stress

Persistent stress that continues over an extended period of time, leading to significant psychological and physical health issues.

Osteoarthritis

A degenerative joint disease characterized by the breakdown of cartilage and underlying bone, leading to pain and stiffness, especially in the hips, knees, and thumbs.