If material, all of the following are required to be separately disclosed in the financial statements except for
A) accounts receivable from officers.
B) accounts receivable from affiliates.
C) sales and assets for different business segments.
D) sales for the last ten days of the fiscal year.

Question

Quizplus · Accepted Answer

Sales for the last ten days of the fiscal year are not considered material and do not need to be separately disclosed in the financial statements. However, accounts receivable from officers and affiliates and sales and assets for different business segments are all considered material and must be separately disclosed in the financial statements.

If Material, All of the Following Are Required to Be