A company must include all of the following about its liabilities in the notes to the financial statements EXCEPT the:
A) maturity dates of the debt.
B) interest rates on the debt.
C) interest expense paid for the year.
D) current maturities of the long-term debt as a current liability.

Question

Quizplus · Accepted Answer

While the company must disclose the maturity dates and interest rates of its debt and the current maturities of long-term debt, it is not required to disclose the interest expense paid for the year in the notes to the financial statements. This information is already provided on the income statement.

A Company Must Include All of the Following About Its