Footnotes to a company's financial statements are used to
A) More fully explain certain items in the financial statements.
B) Reflect financial notes personalized by the company's executive team.
C) Show the detail of salaries of every employee.
D) Justify fraudulent business practices.

Question

Quizplus · Accepted Answer

Footnotes are used to provide additional information and explanations to help users of the financial statements better understand certain items. They are not used to reflect personal notes or justify fraudulent practices. Neither are they used to show the detail of every employee's salary.

Footnotes to a Company's Financial Statements Are Used to