Disclosures Can Be Made Either on the Face of the Financial

question 39

True/False

Disclosures can be made either on the face of the financial statements in the form of classifications or in parenthetical notations and/or in the notes to the statements.

---

Definitions:

Top-Down

In decision-making and information processing, this term describes an approach where decisions or analysis start from a broader, general perspective and move towards more specific details.

Bottom-Up

A processing approach in which analysis starts with the smaller, detailed elements and builds up to a comprehensive picture.

Impression Formation

The process by which individuals form opinions and judgments about other people based on available information and social cues.

Theory of Mind

The cognitive ability to understand that others have beliefs, desires, intentions, and perspectives that are different from one's own.