Which of the following would not typically be disclosed in the notes to the financial statements?
A)Additional detail regarding numbers reported in the financial statements.
B)A summary of significant accounting policies.
C)Commitments under long-term supply agreements.
D)The net income earned for the reporting period.

Question

Quizplus · Accepted Answer

The net income earned for the reporting period is typically disclosed in the income statement or statement of comprehensive income, not in the notes to the financial statements which provide additional information about the financial statements, rather than restating information that is already disclosed in the financial statements. A, B, and C are commonly disclosed in the notes to the financial statements.

Which of the Following Would Not Typically Be Disclosed in the Notes