Question

Other disclosures related to receivables are reported

a.on the income statement only.
b.on the face of the financial statements only.
c.in the financial statement notes only.
d.either on the face of the financial statements or in the financial statement notes.

Answer 1

Correct option is (d)

Step-by-step explanation:

Other disclosure related to receivables include further information on the amounts owed to the organization by debtors such as notes receivables and trade receivables. They are reported either on the face of financial statements in the balance sheet or as notes in the financial statements.

This includes additional information about the receivables such as risk associated with it or market value of receivables.