Firms must disclose a list of their long-term debt obligations in notes to the financial statements.

Name: Firms must disclose a list of their long-term debt obligations in notes to the financial statements.
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Question

Quizplus · Accepted Answer

According to generally accepted accounting principles (GAAP), firms are required to disclose their long-term debt obligations in the notes to the financial statements. This includes the amount of debt, interest rates, maturity dates, and other relevant information.

Firms Must Disclose a List of Their Long-Term Debt Obligations