What Types of Information Must Be Disclosed in the Financial

question 85

Multiple Choice

What types of information must be disclosed in the financial statements?

• A) The comprehensive list issued by the FASB.
• B) Only information that is determined by management.
• C) Non-financial information that is not included in the basic financial statements.
• D) Ratio analysis.

---

Definitions:

Demand for Curds

This refers to the desire and ability of consumers to purchase curds, a form of dairy product, at various prices over a given period.

Price of Curds

The cost at which curds are sold in the market, which can vary based on factors like quality, production method, and geographical location.

Price of Whey

The market cost for whey, a byproduct of cheese production, which is used in various food products and as an animal feed.

Income

Regular remuneration derived from employment or the engagement in investment ventures.