Which of the Following Is NOT an Objective of Financial

question 41

Multiple Choice

Which of the following is NOT an objective of financial reporting?

• A) to provide information about an entity's economic resources, obligations, and equity/net assets
• B) to provide information that is useful to investors and creditors and other users in making resource allocation decisions and/or assessing management stewardship
• C) to provide information that is useful in assessing the economic performance of the entity
• D) to provide the most useful information possible even if the costs exceed the benefits

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Definitions:

Maturity Principle

A concept that individuals become capable of or interested in certain behaviors or cognitive tasks as they mature.

Conscientious

Personifying carefulness, diligence, and the desire to do a task well.

Neurotic

Referring to a personality trait characterized by anxiety, moodiness, worry, or other feelings of distress.

Openness To Experience

Openness to experience is a personality trait characterized by a willingness to try new things, be creative, think abstractly, and engage in diverse experiences.