Which of the following balance sheet classifications would normally require the greatest amount of supplemental disclosure?
A) Current assets
B) Current liabilities
C) Plant assets
D) Long-term liabilities

Question

Quizplus · Accepted Answer

Long-term liabilities typically require the greatest amount of supplemental disclosure, as they involve significant future obligations of the company and can include complex terms such as covenants, interest rates, and maturity dates. Current assets and liabilities are relatively straightforward, while plant assets may require some additional information regarding depreciation and useful lives but are generally easy to understand compared to long-term liabilities.

Which of the Following Balance Sheet Classifications Would Normally Require