Which of the Following Should Be Disclosed in a Summary

question 49

Multiple Choice

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

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

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Definitions:

Interests

Refers to activities, topics, or subjects that an individual finds engaging or enjoys exploring.

Drive Theories

Psychological theories that posit behavior is motivated by desires to satisfy biological needs or drives.

Incentive Theories

Theories that suggest that behavior is motivated by a desire for reinforcement or incentives.

Sociobiological

Relating to the study of the biological basis of social behavior, suggesting that such behavior is influenced by evolutionary factors.