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24 September, 15:15

The provisions of some laws and regulations have a direct effect on the financial statements in determining the reported amounts and disclosures in the financial statements. Which of the following is least likely to have a direct effect on the financial statements of the entity identified?

A. A corporation's compliance with the tax code.

B. A bank's compliance with legal capital requirements.

C. A service firm's compliance with pension laws.

D. A manufacturer's compliance with the occupational and safety code.

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Answers (1)
  1. 24 September, 15:41
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    Option D is correct.

    Explanation:

    A manufacturer's compliance with the occupational and safety code is least likely to have a direct effect on the financial statements of the entity identified.
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