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when we use the term “disclosure”, it may mean the following:
* when an amount is part of the sofp and sopl. eg, inventory, or depreciation expense. is this considered a disclosure?
* any thing that is mentioned in the Notes.
is this a correct assessment?
thanks
Yes – that is correct.
However, it should be clear from the wording of a question which one they mean 🙂
right…. thank u.. i will post a few real questions…:)
thanks again… as usual…am in panic mode since exam around 25th
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