Which of the Following Is an Example of a Significant

question 54

Multiple Choice

Which of the following is an example of a significant accounting policy 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