Which of the Following Is True

question 25

Multiple Choice

Which of the following is true?

• A) The Financial Accounting Standards Board has never permitted the disclosure of the fair values of noncurrent operating assets in the notes to financial statements.
• B) The SEC currently requires the disclosure of the fair values of noncurrent operating assets in the notes to financial statements of companies that are registered with the SEC.
• C) The Financial Accounting Standards Board currently requires the disclosure of the fair values of noncurrent operating assets in the notes to the financial statements.
• D) Disclosure of the fair values of noncurrent operating assets in the notes to the financial statements is currently encouraged but not required by the Financial Accounting Standards Board.

---

Definitions:

Asexual Reproduction

The process by which an organism creates a genetically identical copy of itself without the involvement of another organism.

Choanoflagellates

A group of free-living unicellular and colonial flagellate eukaryotes considered to be the closest living relatives of the animals.

Collar Cells

Also known as choanocytes, are flagellated cells that line the interior of asconoid sponges and are used for feeding by generating water flow and filtering food particles.

Amebocytes

Cells found in the bloodstream of invertebrates that move like amoebas, involved in various functions including distributing nutrients and forming immune responses.