In terms of level of detail provided in the individual financial statements, the U.S. tends to:
A. emphasize more line items on the face of the financial statements.
B. rely less on footnote disclosure.
C. condense the amount of line items and supplement with more footnote detail.
D. use footnotes only when absolutely required by GAAP.
Answer:C
In terms of level of detail provided in the individual financial statements, the U.S. tends to:
A. emphasize more line items on the face of the financial statements. B. rely less on footnote disclosure. C. condense the amount of line items and supplement with more footnote detail. D. use footnotes only when absolutely required by GAAP.