The financial statements present aggregated information, for example, the total amount of land, buildings, and equipment.Financial reports provide more detail for some of the items reported in the financial statements, and they provide additional explanatory material to help the user to understand the information in the financial statements.This information appears in _____ that are an integral part of the financial reports.
A)management's discussion and analysis
B)external auditors report
C)internal auditors report
D)press releases
E)schedules and notes

Question

Quizplus · Accepted Answer

Schedules and notes provide more detailed information and explanatory material to help users understand the information in the financial statements. Management's discussion and analysis, external auditor's report, internal auditor's report, and press releases may also be included in financial reports, but they do not necessarily provide more detailed information on the items reported in the financial statements.

The Financial Statements Present Aggregated Information, for Example, the Total