A Set of Financial Statements

question 3

Multiple Choice

A set of financial statements:

• A) Is intended to assist users in evaluating the financial position, profitability, and future prospects of an entity.
• B) Is intended to assist the IRS in determining the amount of income taxes owed by a business organization.
• C) Includes notes disclosing information necessary for the proper interpreta?tion of the statements.
• D) Is intended to assist investors and creditors in making decisions involving the allocation of economic resources.