In the notes to financial statements, adequate disclosure would typically not include:
A) The accounting methods in use.
B) Lawsuits pending against the business.
C) Due dates of major liabilities.
D) The optimism of the CFO regarding future profits.

Question

Quizplus · Accepted Answer

The optimism of the CFO regarding future profits is subjective and not an objective fact that would be disclosed in the notes to financial statements. The other choices are examples of information that would typically be included in such disclosures.

In the Notes to Financial Statements, Adequate Disclosure Would Typically