Question

In: Accounting

Which of the following items is not part of disclosure notes to the financial statements? a)...

Which of the following items is not part of disclosure notes to the financial statements?

a) Descriptions of the significant accounting methods applied in the company's financial statements.

b) Additional detail of income taxes payable reported in the balance sheet.

c) Names of executive officers and the salaries for each officer listed.

d) Commitments under long-term supply agreements to buy inventory and equipment.

Solutions

Expert Solution

c) Companies has to report only top 10 top paid employees in the director's report

and

those earning in excess of Rs 1.02 crore per annum and not require to disclose all the executive officers salaries that are listed.

The Remaining all the details given above has to disclose in financial statements:

a)Discriptions of the significant accounting methods used in preparation of financial statements has to disclose in financial statements

b)additional details of income taxes reported in balance sheet has to provide in financial statement

d)Commitments under long-term supply agreements to buy inventory and equipment has to provide in financial statement

ekkarill92 answered 2 years ago
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