Which of the following statcments 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, andchanges to them.c. Provide information on the liquidation value of an enterprise.d. Provide information that is useful in assessing cash flow prospects.

Answered: atcments is not an objective of…

atcments is not an objective of financial reporting? hat is useful in investment and credit decisions. about enterprise resources, claims to those liguui onternrio

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Which of the following statcments 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.

Expert Solution

Introduction

THE OBJECTIVE OF FINANCIAL REPORTING IS TO TRACK ANALYSE AND REPORT YOUR BUSINESS INCOME . THE PURPOSE OF THESE REPORTS IS TO EXAMINE RESOURCE USAGE , CASH FLOW , BUSINESS PERFORMANCE AND FINANCIAL HEALTH OF BUSINESS .

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