Which of the following is not a way that the disclosure and reporting requirements for interim financial statements differ from those for annual financial statements?
A) Accruals for estimates of bad debt are not usually as precise on interim dates as they are at year end.
B) Information disclosed in the latest annual statements does not have to be repeated in the interim statements except for continuing contingencies and other uncertainties.
C) Accruals for estimates of income tax expenses are not usually as precise on interim dates as they are at year end.
D) The interim information does not have to be filed with the SEC for public companies.

Question

Quizplus · Accepted Answer

The disclosure and reporting requirements for interim financial statements differ from those for annual financial statements in many ways, such as the frequency of reporting, the level of detail required, and the precision of estimates. However, one way in which they do not differ is that the interim information does have to be filed with the SEC for public companies, just like the annual information does. Therefore, option D is the correct answer as it is not a way the requirements differ.

Which of the Following Is Not a Way That the Disclosure