Which of the following is not a way that the disclosure and reporting requirements for interim...
Which of the following is not a way that the disclosure and reporting requirements for interim financial statements differ from those for annual financial statements?
| a. |
Accruals for estimates of bad debt are not usually as precise on interim dates as they are at year end. |
|
| b. |
Accruals for estimates of income tax expenses are not usually as precise on interim dates as they are at year end. |
|
| c. |
The interim information does not have to be filed with the SEC for public companies. |
|
| d. |
Information disclosed in the latest annual statements does not have to be repeated in the interim statements except for continuing contingencies and other uncertainties. |
Homework Answers
Solution:
Information disclosed in the latest annual statements does not have to be repeated in the interim statements except for continuing contingencies and other uncertainties.
Hence option d is correct.
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