Which of the Following Statements Concerning Financial Statement Presentation Is

question 186

Multiple Choice

Which of the following statements concerning financial statement presentation is NOT a true statement?

• A) Intangible assets can be listed separately on the balance sheet.
• B) The balances of major classes of assets may be disclosed in the footnotes.
• C) The balances of the accumulated depreciation of major classes of assets may be disclosed in the footnotes.
• D) The balances of all individual assets, as they appear in the subsidiary long-lived asset ledger, should be disclosed in the footnotes.

---

Definitions:

Bottles

Containers with a neck that are narrower than the body and are often used to store liquids.

Existing Resources

The currently available inputs, including labor, capital, and raw materials, used for production in the economy.

Increase Resources

The act of augmenting the inputs or assets available for the production of goods and services.

Trade

The act of transacting by acquiring, disposing of, or swapping commodities and services within or between nations.