Answer: d. Requires description of all significant accounting policies to be included as an integral part of the financial statements.
Step-by-step explanation:
There are several accounting and valuation policies that a company can use when presenting its financial information for the year. Companies are meant to follow the policies that would most fairly represent their assets and liabilities.
When they pick these valuation methods, it is important that the people who study their financial statements know the valuation and accounting methods used so that they can understand the figures.
To this end, ASC Topic 235 requires that the company should include the significant accounting policies that it used as notes so that financial statement users understand how the company reached the figures it recorded.