Footnote 1 of every public company's financial statements contains all of the following EXCEPT:
A)The company's revenue recognition policy.
B)How the company determines its fiscal year reporting period.
C)The impact of recently issued accounting principles that might impact comparability of reported income and that might have required accounting changes.
D)The amount of compensation (including bonuses)paid to the company's CEO and CFO.

Question

Quizplus · Accepted Answer

Footnote 1 typically includes the company's accounting policies, such as revenue recognition and fiscal year determination, as well as the impact of new accounting principles. However, compensation details for executives like the CEO and CFO are usually disclosed in the proxy statement or other sections of the financial report, not in Footnote 1.

Footnote 1 of Every Public Company's Financial Statements Contains All