Which of the Following Are Established by FASB 131(ASC 280)as

question 35

Multiple Choice

Which of the following are established by FASB 131(ASC 280) as "enterprisewide disclosure" standards to provide more information about the risks to a company?
I.Information about dominant industry segments.
II.Information about major customers.
III.Information about geographic areas.

• A)Both II and III
• B)Both I and III
• C)Both I and II
• D)I,II,and II

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Definitions:

Sensitivity

The degree to which the value of an investment or financial metric responds to changes in market conditions or other variables.

Net Present Value

A calculation used to determine the current value of a series of future cash flows by discounting them at a specific rate.

Forecasting Errors

The discrepancy between what was foreseen and the actual result.

Forecasting Risk

The risk associated with the inability to accurately predict future events, costs, or revenues, which can impact decision-making and financial planning.