Which of the Following Types of Matters Do not Generally

question 26

Multiple Choice

Which of the following types of matters do not generally require disclosure in the financial statements?

• A)General risk contingencies.
• B)Commitments.
• C)Loss contingencies.
• D)Liabilities to related parties.

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Definitions:

Compounded Semi-Annually

Interest on an investment or loan calculated twice a year and added to the principal.

Economic Values

The worth of goods or services as determined by the market or the intrinsic importance or utility they offer to individuals.

Compounded Monthly

Interest on a loan or investment calculated monthly and added to the principal sum for the calculation of subsequent interest.

Compounded Annually

Interest calculation and accumulation once per year on the principal amount of an investment or loan.