Question

I am needing the following questions answered based on General Motors Company (GM), using the 2019 fiscal year 10-k report

31. How many footnote disclosures does your company have?

32. How many significant accounting policies are listed under its Summary of Significant Accounting Policies?

33. What does it include as Cash and Cash Equivalents?

34. What method does it use to value Inventory?

Answer 1

31. Disclosures of General Motors Company (GM) include:-

1. Disclosure of contingent liabilities

2.Quantitative and qualitative disclosures about market risk

3. All the applied audit procedures for material misstatements are disclosed.

32. Significant accounting policies listed under its Summary of Significant Accounting Policies are Revenue Recognition, Equipment on Operating Leases, Marketable Debt Securities, Equity Investments and Derivative Financial Instruments.

33.Cash and Cash Equivalents includes casha and marketable securities. Cash and cash equivalents subject to contractual restrictions and not readily available are classified as restricted cash.

34.Inventories are stated at the lower of cost or net realizable value