SFAC No. 5 Defines Disclosure As

question 48

Multiple Choice

SFAC No. 5 defines disclosure as:

• A) Presentation of information in the financial statements.
• B) Presentation of information by means other than recognition in the financial statements.
• C) Recognition of information in the financial statements or footnotes.
• D) Presentation of information in any source available.

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Definitions:

Uncorrected

Refers to something that has not been amended, fixed, or rectified.

Single Line

A straight line that has no bends or curves.

Numeric Amount

A figure or value expressed in numbers, representing quantity or magnitude.

Electronic Check

A digital version or representation of a paper check, used to make electronic payments directly from a checking account.