The IASB and FASB Require Companies to Provide Expanded Disclosure

question 43

True/False

The IASB and FASB require companies to provide expanded disclosure about their contractual obligations.

---

Definitions:

Charitable Contributions

Donations made by individuals or organizations to charitable causes for altruistic purposes.

Community Service

Community Service is volunteer work performed for the benefit of the community without monetary compensation, often mandated by courts or as a requirement by educational institutions.

Security and Exchange Commission (SEC)

A U.S. federal agency responsible for enforcing federal securities laws and regulating the securities industry.

Publicly Traded Companies

Businesses whose shares are available for purchase by the general public on stock exchanges.