Financial statement users rely on accounting policies footnote information to compare a company to other firms in the same industry.

Question

Quizplus · Accepted Answer

Accounting policies footnote information provides details on how a company records and reports its financial information, which is important for users to compare the company's financial performance and position to other companies in the same industry. Therefore, the statement is true.

Financial Statement Users Rely on Accounting Policies Footnote Information to Compare