Which of the following statement is the objective of financial reporting?
The objective of financial reporting is to provide standardized and audited information to investors so that they can use it to make informed decisions. Investors include creditors, bankers, and shareholders.
Which of the following statements is not an objective of accounting?
To provide information about the private assets and liabilities of the proprietor is not an objective of accounting. Accounting is the process of recording the financial deals of a business undertaking.
Which of the following is not an objective of financial audit?
Detailed Solution. Punishment for frauds is not an objective of auditing.
Which of the following is most likely not an objective of a financial statement?
They do not typically provide information about users. Which of the following is most likely not an objective of financial statements? To provide information about the performance of an entity.
Which of the following statements is not an objective of financial reporting? a. Provide information that is useful in investment and credit decisions. b. Provide information about enterprise resources, claims to those resources, and changes to them. c. Provide information on the liquidation value of an enterprise. d. Provide information that is useful in assessing cash flow prospects.
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- which of the following statements is not normally an objective of financial reporting