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

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter2: Financial Reporting: Its Conceptual Framework

Section: Chapter Questions

Problem 8GI

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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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