The Objective of General Purpose Financial Reporting Is Stated in Most

question 26

Multiple Choice

The objective of general purpose financial reporting is stated in most conceptual frameworks as providing decision-useful information to users of financial reports.Which of the following are not regarded as legitimate users of financial reports according to the IASB Framework?

• A) Users without some proficiency in financial accounting
• B) Recipients of goods and services
• C) Special interest groups in the general public
• D) All of the given options are correct

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Definitions:

Informal Note

A casual or unofficial piece of writing used for personal communication or reminders.

Confidential

Being prudent and conscious, revealed in confidence; secret information—especially in regard to speech.

Secure

To make something safe from threats or to ensure its safety.

Independent Clauses

Sentences or clause types that can stand alone as a complete thought because they have both a subject and a predicate.