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

The answer is D) sales for the last ten days of the fiscal year.

Step-by-step explanation:

The answer to the question is D) sales for the last ten days of the fiscal year. Among the given options, 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. However, sales for the last ten days of the fiscal year do not need to be separately disclosed.