Explain What is an RFC? - (b) Disclosure Description: As per the concept of Disclosure, the financial statements must disclose all the reliable and relevant information about the business enterprise, to the management and also to their external users for which they are meant, which will help them in turn to take a reasonable and rational decision. Contingent liabilities are not recorded in the financial statements but should be shown as a footnote as per the concept of disclosure. - Fundamentals of Accounting Interview Questions and Answers

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Question: Explain What is an RFC?

Answer: (b) Disclosure
Description: As per the concept of Disclosure, the financial statements must disclose all the reliable and relevant information about the business enterprise, to the management and also to their external users for which they are meant, which will help them in turn to take a reasonable and rational decision. Contingent liabilities are not recorded in the financial statements but should be shown as a footnote as per the concept of disclosure.

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Question: Explain What is an RFC?

Answer:

(b) Disclosure
Description: As per the concept of Disclosure, the financial statements must disclose all the reliable and relevant information about the business enterprise, to the management and also to their external users for which they are meant, which will help them in turn to take a reasonable and rational decision. Contingent liabilities are not recorded in the financial statements but should be shown as a footnote as per the concept of disclosure. Source: CoolInterview.com

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