Which of the following is true about the format of financial reports?
A) All multinational corporations report Sales Revenue on their income statements.
B) Gross margin is a standard line item on income statements throughout the world.
C) Notes to financial statements may clarify international differences in statement formats.
D) In all countries, total assets are shown on the left side of the balance sheet and liabilities and owners' equity are shown on the right side.

Answer rating: 100% (QA)

Solution The correct answer is C Notes to financial statements may clarify international differences in statement ... View the full answer