Examples of Notes Are Descriptions of the Significant Accounting Policies

question 167

True/False

Examples of notes are descriptions of the significant accounting policies and methods used in preparing the statements, explanations of contingencies, and various statistics.

---

Definitions:

Extension Of Credit

An agreement to allow a purchaser to pay for goods or services at a future date, typically involving interest fees.

Fair Credit Reporting Act

A U.S. federal law designed to ensure the accuracy, fairness, and privacy of consumer information contained in the files of consumer reporting agencies.

Investigative Report

A detailed report compiled as the result of a systematic, in-depth investigation or research into a specific issue, situation, or allegation.

Nationwide Consumer

Nationwide consumer refers to an individual who purchases or uses goods and services across an entire country, not limited to a specific area.