Which of the following is generally supplementary information required by GAAP concerning the accounting treatments used by a company?
A)A year-end worksheet
B)Management's Discussion and Analysis
C)Report of Independent Accountants
D)Notes to the Consolidated Financial Statements

Question

Quizplus · Accepted Answer

According to GAAP, companies are required to provide supplementary information in the form of Notes to the Consolidated Financial Statements. These notes provide additional details and explanations about the accounting treatments used by the company and help ensure transparency and accuracy in financial reporting. Option A, a year-end worksheet, is not typically required by GAAP. Option B, Management's Discussion and Analysis, is a separate section in a company's annual report that discusses the company's financial performance and future prospects but is not specifically focused on accounting treatments. Option C, the Report of Independent Accountants, is a document prepared by external auditors that provides their opinion on the company's financial statements but does not provide additional information on accounting treatments used.

Which of the Following Is Generally Supplementary Information Required by GAAP