What is the most important item that included in the notes to the financial statements? O a. Financial schedules O b. The auditor's report O c. The management discussion and analysis O d. A summary of the firm's accounting policies

What is the most important item that included in the notes to the financial statements? O a. Financial schedules O b. The auditor's report O c. The management discussion and analysis O d. A summary of the firm's 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

What is the most important item that included in
the notes to the financial statements?
O a. Financial schedules
O b. The auditor's report
O c. The management discussion and analysis
O d. A summary of the firm's accounting
policies

What is followed while preparing the financial
statements?
O a. Accounting concepts
O b. Accounting conventions
O c. All options are correct.
O d. Accounting principles

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