Financial Statements Are the Principal Means Through Which Financial Information

question 40

True/False

Financial statements are the principal means through which financial information is communicated to those outside an enterprise.

---

Definitions:

Consumers

Individuals or groups that purchase or have the potential to purchase goods and services for personal use.

Primary Data

Information that is collected firsthand for a specific research purpose or project, such as through surveys, interviews, or experiments.

Watching People

The act of observing individuals' behaviors and interactions, often used in market research or social studies to gather insights.

Asking Questions

A communication technique used to gather information, clarify understanding, engage in conversation, or guide a discussion towards a specific objective.