Which of the following is not one of the purposes of financial statements? a) Presenting useful information for decision makers B) Giving information about the financial situation of the business NS) To provide information about the operating results of the business D) Giving information about the stock items of the business TO) Giving information about the cash flows of the business
Which of the following is not one of the purposes of financial statements? a) Presenting useful information for decision makers B) Giving information about the financial situation of the business NS) To provide information about the operating results of the business D) Giving information about the stock items of the business TO) Giving information about the cash flows of the business
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
14 - |
Which of the following is not one of the purposes of financial statements? |
|
Expert Solution
Financial Statement
Financial statement typically contains
- Income Statement
- Balance Sheet
- Cash flow statement
Income statement provides the operating results of the business.
Balance sheet summarises the financial position of the business.
Cash flow statement provides the information regarding the usage of cash by the business.
Financial statements helps its users in making informed decisions
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education