Which of the Following Do NOT Need to Be Disclosed

question 23

Multiple Choice

Which of the following do NOT need to be disclosed in financial statements?

• A) Details concerning revaluations.
• B) Cost and accumulated depreciation by major classes of assets.
• C) A description of the enterprise's accounting policies with respect to depreciation/amortisation.
• D) Reasons for assets not being revalued.

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Definitions:

Functional Changes

Modifications made to improve or alter the operational effectiveness of a system, process, or organization.

Diverse Cultures

Refers to the inclusion and interaction of a variety of cultural backgrounds, traditions, and perspectives within a group or society.

Transferable

Qualities, skills, or knowledge that can be applied in different roles or contexts effectively.

Productivity

The efficiency at which individuals, businesses, or systems can produce goods or complete tasks relative to the input used.