Question

In interim reports, companies are required to disclose information on several key aspects. Please select all that apply:

a. Provision for income taxes
b. Total assets
c. Sales or gross revenues
d. Cash flow from operations

Answer 1

Interim reports require companies to disclose information on provision for income taxes, total assets, sales or gross revenues, and cash flow from operations. All the options are correct.

Step-by-step explanation:

Companies are required to disclose information on several key aspects in interim reports. These aspects include:

1. Provision for income taxes: This refers to the amount set aside by the company to cover its tax obligations.
2. Total assets: This represents the value of all assets owned by the company.
3. Sales or gross revenues: This is the total revenue generated by the company from its sales.
4. Cash flow from operations: This indicates the amount of cash generated from the company's core operations.