Most Annual Reports Contain the Following List of Basic Elements

question 17

Essay

Most annual reports contain the following list of basic elements.For each element identify the person(s)who prepared the element and describe the information a user would expect to find in each element.Some information is verifiable,while other information is subjectively chosen by management.Indicate whether the information in each element is verifiable.
$\begin{array}{|l|l|l|l|}\hline &\text { Prepared } & \text { Informuation } & \text { Verifiable/ } \\\hline \text { Elements } &\text { By } & \text { Provided } & \text { Yes or No? } \\\hline\text { Managenent Discussion \& Analysis } \\\hline\text { Financial Statements } \\\hline\text { Notes to Financial Statements } \\\hline\text { Report of Independent Accountants } \\\hline\end{array}$

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Definitions:

Ectoderm

The embryonic external layer of cells or tissue that forms early on and develops into the skin and nervous system.

Mesoderm

The middle layer of an embryo in early development, between the endoderm and ectoderm, which gives rise to muscles, bones, and blood tissues.

Germ Layer

Each of the three layers of cells (ectoderm, mesoderm, and endoderm) that form during embryogenesis, which give rise to all tissues and organs of an organism.

Radial Cleavage

A type of embryonic development in which the cells divide parallel or perpendicular to the polar axis, resulting in a radially symmetrical embryo.