Which of the Following Is an Example of Additional Information

question 40

Multiple Choice

Which of the following is an example of additional information about summary totals that would be explained in the notes to the financial statements?

• A) The description of all the individual items that comprise notes payable
• B) The disclosure of quarterly financial information
• C) The method used to estimate depreciation on a piece of equipment
• D) The disclosure of the uncertain, potential outcome of a lawsuit

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Definitions:

Performance Appraisal

The formal assessment of an individual employee's job performance and productivity, usually involving feedback and documentation.

360-Degree Feedback

A performance appraisal system where employees receive confidential, anonymous feedback from the people who work around them.

Subordinates

Employees or team members who work under the guidance or supervision of a manager or superior in the organizational hierarchy.

Customers

Individuals or organizations that purchase goods or services from a business.