Practice
Check your answer
Write your response and explain your reasoning.
The following summary comes from Microsoft's 2025 annual report. Microsoft Corporation and its subsidiaries are the reporting entity. Note 6 gives fiscal 2024 depreciation expense as $15.2 billion for the year ended June 30, 2024.
Identify the reporting entity, the period the expense describes, and the currency and scale. Does the report's 2025 title change the period of this comparative expense?
Compare your reasoning with the worked answer
The reporting entity is Microsoft Corporation and its subsidiaries. The expense describes the year ended June 30, 2024. Its units are US dollars in billions. An annual report can include earlier comparative periods; its title does not change the period stated for this expense.