Which of the following is an item that is reportable in the financial records of an enterprise?
A) The value of goodwill earned through business operations
B) The value of human resources
C) Changes in personnel
D) Changes in inventory costing methods

Question

Quizplus · Accepted Answer

Changes in inventory costing methods are reportable in the financial records because it affects the valuation of inventory and therefore, impacts the financial statements. A and B are not reportable items, as goodwill and human resources are not considered tangible assets and cannot be accurately quantified in financial terms. Changes in personnel may have an impact on financial records but would not be considered an item that is reportable on its own.

Which of the Following Is an Item That Is Reportable