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25 May, 04:46

Financial statement note disclosures on long-term liabilities should include information on authorization of new debt issues, sale of previously authorized issues, and retirement and refunding of debt during the year.

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  1. 25 May, 04:56
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    Answer: TRUE

    Explanation:Financial statements are compiled reports of an organisation's Financial inflow and outflow during a given period. of time, it can for a period of one year. Financial statements are sometimes done for the purpose of Auditing, for the purpose of controlling the inflow and outflow of funds.

    Financial statements should note disclosures on long term liabilities,

    information on authorization of new debt issues, sale of previously authorized issues, and retirement and refunding of debt during the year.
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