Notes to the Financial Statements Typically Include Each of the Following

question 35

Multiple Choice

Notes to the financial statements typically include each of the following except:

• A) all insignificant disclosures.
• B) explanations of measuring bases used.
• C) details of asset subclassifications.
• D) confirmation that accounting standards have been adhered to.

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Definitions:

Marketable Discharge Permits

Permits that allow holders to emit a certain amount of pollutants into the environment, which can be bought, sold, or traded, creating an economic incentive for reducing emissions.

Mercury Discharge

The release or emission of mercury, a toxic heavy metal, into the environment, often from industrial sources.

National Environmental Policy Act

A law enacted to ensure that the government gives proper consideration to the environmental impact of major federal actions that could significantly affect the environment.

Council on Environmental Quality

A federal agency within the Executive Office of the President that advises on environmental policies and strategies.