Which of the Following Is Not a Required Disclosure in an Interim

question 115

Multiple Choice

Which of the following is not a required disclosure in an interim financial report?

• A) Net income.
• B) Earnings per share.
• C) Gross profit.
• D) Significant changes in estimates or provisions for income taxes.
• E) Disposal of a segment, net of income taxes.

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Definitions:

Issue Price Over Par

Occurs when a security, typically a bond, is sold at a price higher than its face value.

Preferred Stock

A class of shares which typically provides a fixed dividend and has priority over common stock in the distribution of assets during liquidation.

Shares

Shares representing ownership rights in a corporation or financial asset, guaranteeing a fair share of profits through dividends, if declared.

Par Common Stock

This represents the nominal or face value assigned to common stock shares, which is the minimal amount shareholders must contribute and is not necessarily related to the market value.