Which of the following expenses must be disclosed by a reporting entity?
A) Amortisation expense.
B) Lease costs.
C) Auditors' fees.
D) All of the above.

Question

Quizplus · Accepted Answer

All of the mentioned expenses must be disclosed by a reporting entity as per the accounting standards and regulations. Amortisation expense represents the systematic allocation of the cost of an intangible asset over its useful life. Lease costs either for operating or finance leases need to be disclosed as they represent significant financial obligations for the reporting entity. Auditors' fees represent the fees paid by the reporting entity to the external auditors for the audit of financial statements, and they need to be disclosed to maintain transparency.

Which of the Following Expenses Must Be Disclosed by a Reporting