Which of the Following Is Not a Proper Use of Notes

question 66

Multiple Choice

Which of the following is not a proper use of notes?

• A)To describe the nature and effect of a change in accounting principle,such as from FIFO to LIFO.
• B)To indicate the basis for asset valuation.
• C)To indicate the method of depreciation.
• D)To correct an improper financial statement presentation.
• E)To describe a firm's debt.

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Definitions:

Correlation Coefficient

Represented by r, it is a number between −1 and 1, inclusive, that is used to judge how closely a line fits the data.

Median

The middle value in a data set when the values are arranged in ascending or descending order.

Discretionary Expense

Non-essential spending or expenses that an individual chooses to make, which can be cut without impacting their ability to cover basic living costs.

Measures Of Central Tendency

Single numbers, such as the mean, median, and mode, designed to represent a “typical” value for the data.