Which of the Follow Statements Regarding the Primary Objective of Financial

question 63

Multiple Choice

Which of the follow statements regarding the primary objective of financial reporting is correct?

• A) The primary objective of financial reporting is to provide information useful for the acquisition of long-term assets.
• B) Information that is faithfully represented is complete, neutral, and free from error.
• C) Relevant information ensures that users of the information will make the correct decisions.
• D) To be useful, information must follow the Generally Accepted Accounting Principles which are created and governed by the Securities and Exchange Commission.

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Definitions:

Asian Countries

Asian countries include the nations located on the continent of Asia, which is the world’s largest and most populous continent, featuring a diverse range of cultures, languages, and economies.

Prohibited

Forbidden by law, regulation, or other forms of official authority.

Immigrants

Individuals who move from one country to another with the intention of settling in the new country permanently.

Political Efficacy

The belief that one's actions can influence political processes and that participation in politics can bring about change.