Which of the following statements is correct regarding transactions between a company and a major customer that accounts for more than 10 percent of the company's sales? 

a. The profit from such transactions should be shown as a separate line item on the financial statements. 

b. There is no disclosure required. 

c. Disclosure of the terms, including profitability, is required for all companies. 

d. Disclosure of the amounts of such transactions must be disclosed for publicly- traded companies, but not for privately-held companies.