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

Question

Quizplus · Accepted Answer

Long-term liabilities typically require more supplementary disclosure as they involve larger amounts and longer periods of time compared to other balance sheet classifications. For example, disclosures may be required regarding the terms of the liabilities, interest rates, maturity dates, and any collateral or guarantees associated with them.

Which of the Following Balance Sheet Classifications Would Normally Require