Which of the following statements is not an objective of financial reporting? a. To provide information that is useful in investment and credit decisions. b. To provide information about entity resources claims against those resources and changes in those resources. c. To provide information on the liquidation value of an entity. d. To provide information that is useful in assessing cash flow prospects.
Which of the following statements is not an objective of financial reporting? a. To provide information that is useful in investment and credit decisions. b. To provide information about entity resources claims against those resources and changes in those resources. c. To provide information on the liquidation value of an entity. d. To provide information that is useful in assessing cash flow prospects.
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 5MC
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1. Which of the following statements is not an objective of financial reporting?
a. To provide information that is useful in investment and credit decisions.
b. To provide information about entity resources claims against those resources and changes in those resources.
c. To provide information on the liquidation value of an entity.
d. To provide information that is useful in assessing
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