Footnotes are
A)included in the audit report.
B)an integral part of financial statement information.
C)an appendix to the letter from corporate management.
D)at the bottom of the report of the independent auditors.
E)explanatory information in the statement of management's responsibility for preparation of financial statements.

Question

Quizplus · Accepted Answer

Footnotes are an integral part of financial statement information, providing additional details and explanations about the numbers and policies presented in the main body of the statements. They help users of financial statements understand the accounting methods, significant policies, and details behind the numbers.

Footnotes Are