Which of the Following Statements Concerning Financial Statement Presentation Is

question 65

Multiple Choice

Which of the following statements concerning financial statement presentation is false?

• A)Intangibles may be reported separately.
• B)The balances of major classes of assets should be disclosed in the notes.
• C)The balances of the accumulated depreciation of major classes of assets should be disclosed in the notes.
• D)The balances of all individual assets, as they appear in the subsidiary ledger, should be disclosed in the notes.

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Definitions:

Extrasensory Perception

The claimed ability to gain information through means other than the known human senses.

Absolute Threshold

The minimum intensity of a stimulus that one can perceive, marking the boundary between detectable and undetectable levels of sensory input.

Taste Aversion

The learned avoidance of a particular food or drink because it was associated with a negative reaction, such as nausea or vomiting.

Synaesthesia

A condition in which one sense is simultaneously perceived as if by one or more additional senses, such as seeing sound.