As used in accounting,the "Notes to the Financial Statement" should be
A)listed with the liabilities on the balance sheet.
B)omitted at the option of the company.
C)included as an integral part of the financial statements.
D)reported as expenses on the income statement.

Question

Quizplus · Accepted Answer

The "Notes to the Financial Statement" are an integral part of the financial statements as they provide additional information and disclosures that are necessary for a complete understanding of the financial position and performance of a company. They are typically included at the end of the financial statements and are not listed with the liabilities on the balance sheet or reported as expenses on the income statement. Omitting them is not an option as they provide crucial information about the company's financial activities.

As Used in Accounting,the "Notes to the Financial Statement" Should