Although certain supplementary information may not be required, if presented, it must follow GASB guidance regarding its format and content.
Answer the following statement true (T) or false (F)
True
The GASB requires required supplementary information (RSI) if such information is necessary to provide context and understanding. Concepts Statement No.3 defines the methods of presenting RSI.
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The following items were reported on the balance sheets and income statement for Carlton Co: Accounts receivable, December 31, 2016 $185,000 Accounts receivable, December 31, 2017 178,000 Sales—2017 850,000 What amount would be reported in the operating activities section of the statement of cash flows for collections from customers under the direct method assuming that all sales are on credit?
a. $850,000 b. $857,000 c. $843,000 d. Cannot be determined without further information.
Networks among stakeholders are mutually beneficial alliances that are generally governed by the law of ________.
Fill in the blank(s) with the appropriate word(s).
Which statement is not true about judgmental sampling?
A) It does not allow direct generalizations to a specific population. B) It may be useful if broad population inferences are not required. C) Each population element has a known and equal probability of selection. D) An extension of the technique involves the use of quotas.
Period costs are those costs associated with the manufacture of goods or the providing of services
Indicate whether the statement is true or false