Notes11. Which of the following is not a purpose of the notes?a. to present information about the basis of preparation ofthe financial statements and the specific accountingpoliciesb. to disclose the information required by PFRSS that is notpresented elsewhere in the financial statementsc. to provide information that is not presented elsewhere inthe financial statements but is relevant to auunderstanding of any of the financial statements.d. to rectify inappropriate accounting policies. 8. The PFRSS apply to which of the following?a. A management's review of the entity's financialperformance during the period vis-à-vis its targets for thatperiod contained in the entity's annual report, which alsoincludes the entity's financial statements.b. Schedules, reconciliations and returns required by the.Bureau of Internal Revenue (BIR) to be filed together withthe financial statements.C. Environmental reports required by the Department ofEnvironment and Natural Resources (DENR) that areincluded in the entity's annual report.146Explanatory material and other Information thad.method of preseonting

Notes 11. Which of the following is not a purpose of the notes? a. to present information about the basis of preparation of the financial statements and the specific accounting policies b. to disclose the information required by PFRSS that is not presented elsewhere in the financial statements c. to provide information that is not presented elsewhere in the financial statements but is relevant to an understanding of any of the financial statements. d. to rectífy inappropriate accounting policies.

Notes 11. Which of the following is not a purpose of the notes? a. to present information about the basis of preparation of the financial statements and the specific accounting policies b. to disclose the information required by PFRSS that is not presented elsewhere in the financial statements c. to provide information that is not presented elsewhere in the financial statements but is relevant to an understanding of any of the financial statements. d. to rectífy inappropriate accounting policies.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Notes
11. Which of the following is not a purpose of the notes?
a. to present information about the basis of preparation of
the financial statements and the specific accounting
policies
b. to disclose the information required by PFRSS that is not
presented elsewhere in the financial statements
c. to provide information that is not presented elsewhere in
the financial statements but is relevant to au
understanding of any of the financial statements.
d. to rectify inappropriate accounting policies.

8. The PFRSS apply to which of the following?
a. A management's review of the entity's financial
performance during the period vis-à-vis its targets for that
period contained in the entity's annual report, which also
includes the entity's financial statements.
b. Schedules, reconciliations and returns required by the.
Bureau of Internal Revenue (BIR) to be filed together with
the financial statements.
C. Environmental reports required by the Department of
Environment and Natural Resources (DENR) that are
included in the entity's annual report.
146
Explanatory material and other Information tha
d.
method of preseonting

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