The Primary Purpose of Financial Reporting Is to Provide Information

question 63

Multiple Choice

The primary purpose of financial reporting is to provide information that is useful to a company's ________.

• A)suppliers
• B)managers
• C)regulators
• D)employees

---

Definitions:

Competence

The legal ability, knowledge, and skill required to do something or to appear in court.

Loyalty

A strong feeling of support or allegiance to someone or something, often expecting a mutual sense of duty and faithfulness in return.

Wrongful Dismissal

Termination of an employee's contract of employment in violation of the law or the terms of the contract itself.

Employment Relationship

A legal and formal association between an employer and an employee where both parties have specific rights and obligations.