The purpose of the notes to the financial statements are to:
A) explain any resources and obligations not recognised in the Statement of Financial Position
B) provide information meeting the disclosure requirements under national laws or regulations.
C) disclose risks and uncertainties affecting the entity.
D) all of the above.

Question

Quizplus · Accepted Answer

The notes to the financial statements serve multiple purposes including providing explanations for resources and obligations not recognized in the Statement of Financial Position, meeting disclosure requirements under national laws or regulations, and disclosing risks and uncertainties affecting the entity.

The Purpose of the Notes to the Financial Statements Are