An annual report to stockholders prepared using FASB accounting standards generally has more disclosure of nonfinancial statement information than does the typical annual report filed with the SEC.

Question

Quizplus · Accepted Answer

The typical annual report filed with the SEC, specifically Form 10-K, requires comprehensive disclosures including both financial statement information prepared according to FASB standards and extensive nonfinancial statement information, often more than what is included in the annual report to stockholders.

An Annual Report to Stockholders Prepared Using FASB Accounting Standards