The IASB and FASB Boards Have Agreed That the Objective

question 34

Multiple Choice

The IASB and FASB boards have agreed that the objective of general purpose financial reporting is to provide

• A) financial information about a company that is useful to investors, lenders and other creditors
• B) mainly cash flow information about a company that is useful to external users in making decisions in their capacity as capital providers
• C) financial information about a company that is useful to internal users in making decisions in their capacity as capital custodians
• D) financial information about a company that is used by government regulators for taxation

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Definitions:

Auscultating Blood Pressure

The process of listening to the blood pressure sounds using a stethoscope and sphygmomanometer to measure the pressure.

Systolic Blood Pressure

The maximum arterial pressure during heart contraction, typically the higher number in a blood pressure reading.

Phase II Korotkoff Sounds

Refers to the sounds heard through a stethoscope during the phase when the blood starts to flow again in the artery as the pressure in the cuff decreases, usually manifesting as a swooshing or whooshing sound.

Blood Pressure Guidelines

Recommendations established by healthcare organizations regarding the optimal blood pressure ranges for individuals to maintain to promote cardiovascular health and reduce the risk of hypertension-related diseases.