Does U$.$S$.$ GAAP require that companies disclose their accounting$$ policies? Explain.

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Part $1$

A$.$

U$.$S$.$ GAAP does not require companies to disclose their significant accounting policies.$$ However, the accounting policies$$ footnote, which outlines the portfolio of accounting choices is required.

B$.$

U$.$S$.$ GAAP requires companies to disclose all of their accounting policies. The accounting policies$$ footnote, which outlines the portfolio of accounting$$ choices, is not a required document.

C$.$

U$.$S$.$ GAAP requires companies to disclose all of their accounting policies. The accounting policies$$ footnote, which outlines the portfolio of accounting$$ choices, is typically one of the first notes to the financial statements.

D$.$

U$.$S$.$ GAAP requires companies to disclose their significant accounting policies. The accounting policies$$ footnote, which outlines the portfolio of accounting$$ choices, is typically one of the first notes to the financial statements.