Which of the Following Is Most Likely Considered a Material

question 24

Multiple Choice

Which of the following is most likely considered a material omission from the rules of financial statement reporting?

• A)The company no longer discloses a previously settled contingency.
• B)The company does not present the fair value of all current assets on the balance sheet.
• C)A privately held company does not disclose earnings per share.
• D)A company with a net loss does not present a statement of cash flows.

---

Definitions:

Irrigation Water

Water that is specifically delivered to crops to support their growth in times and areas where rainfall is insufficient.

Conservation Tillage

An agricultural practice that reduces the amount of tilling or plowing, maintaining more crop residue on the soil surface to decrease erosion and water loss.

Conservation Tillage

An agricultural practice that minimizes soil disturbance and reduces soil erosion, preserving soil structure and moisture.

Conventional Tillage

A traditional method of farming that involves plowing, harrowing, and preparing the soil before sowing seeds.