Which of the Following Statements Is Not True About Private

question 33

Multiple Choice

Which of the following statements is not true about private companies?

• A)Private companies usually have easily identifiable user groups.
• B)User groups of a private company are not permitted to request additional information, outside of the issued financial statements, from the company.
• C)Private companies are not required to issue "general-purpose" financial statements.
• D)Private companies often report to specific user groups for specific purposes.

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Definitions:

DVD Player

An electronic device that plays DVDs, typically allowing for the viewing of movies and other video content on a TV or monitor.

Cleverly Altered

Describes something modified in a skillful or ingenious manner.

Check Deduction

A payroll or accounting action where a specific amount of money is subtracted directly from an employee's paycheck.

Bank Liability

The legal responsibilities and obligations a bank has towards its customers, such as ensuring the security of deposits and providing accurate account information.