Notes to Financial Statements

question 68

Essay

Notes to financial statements.An article in Dun's Review made the following comments:"Every other year, say, companies should print the notes in big typeand the base figures in smaller ones."
Instructions
(a) Are notes considered as part of the financial statements and what basic purpose do they serve?
(b) What are the general types of notes?

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Definitions:

Unconscious Level

Refers to the part of the mind that is inaccessible to the conscious mind but that affects behavior and emotions.

Pheromone

A chemical substance produced and released into the environment by an animal, especially an insect, affecting the behavior or physiology of others of its species.

Social Behavior

Actions conducted by individuals that are influenced by or aimed at other members of the same species, often referring to human interactions.

Chemical

A substance with a distinct molecular composition that is produced by or used in a chemical process.