Fundamental objective of accounting is to Select one: a. Provide non-financial statements that readers can use...
Fundamental objective of accounting is to
Select one:
a. Provide non-financial statements that readers can use to make appropriate decisions.
b. Provide bankstatements that readers can use to make appropriate decisions.
c. Provide financial information that readers can use to make appropriate decisions.
d. Provide estimates that readers can use to make appropriate decisions.
Homework Answers
THE OBJECTIVE OF FINANCIAL STATEMENTS
‘To provide information about the reporting entity’s financial
performance and financial position that is useful to a wide range
of users for assessing the stewardship of the entity’s management
and for making economic decisions.
As per above definition the correct option c is correct.
Option a is incorrect because financial accounting doesn't produce non financial statement.
Option b is incorrect because it doesn't produce bank statements. It is the job of banks.
Option d is incorrect because it produces accurate data not estimates.
Add Answer to:
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