In regard to disclosures that are required to be contained in annual reports, the FASB has no well-defined list of items that must be included.

Question

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The FASB does not have a well-defined list of items that must be included in annual report disclosures. Instead, they provide guidance on general principles and specific topics that should be considered in determining the content of financial statement disclosures.

In Regard to Disclosures That Are Required to Be Contained