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:

Proof Statements

Assertions or declarations designed to demonstrate or validate a claim, often backed by evidence or data.

Listening

The active process of receiving, interpreting, and responding to verbal and nonverbal messages.

Empathetic

Having the ability to understand and share the feelings of another; showing empathy.

Enthusiastic

Displaying intense and eager enjoyment, interest, or approval.