Question

If material, all of the following are required to be separately disclosed in the financial statements except for:

A) accounts receivable from officers.
B) accounts receivable from affiliates.
C) sales and assets for different business segments.
D) sales for the last ten days of the fiscal year.

Answer 1

Accounts receivable from officers, accounts receivable from affiliates, and sales and assets for different business segments need to be separately disclosed in financial statements, but sales for the last ten days of the fiscal year do not.

Step-by-step explanation:

In financial statements, all of the following are required to be separately disclosed except for sales for the last ten days of the fiscal year. Accounts receivable from officers, accounts receivable from affiliates, and sales and assets for different business segments are all required to be separately disclosed in the financial statements. These disclosures provide transparency and help stakeholders understand the financial health and performance of the company.