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:

Sizes

The dimensions, proportions, or magnitude of objects, expressed in terms of volume, area, or length.

Stimulus Dimension

A specific aspect of a stimulus, such as color or shape, which can be detected and processed by the sensory system.

Preoperational Stage

A stage in Piaget’s theory of cognitive development, typically occurring from ages 2 to 7, characterized by the development of language and symbolic thinking but not yet logical reasoning.

Animistically

Characterized by the belief that non-human entities, like animals, plants, and inanimate objects, possess a spiritual essence or soul.