General Purpose Financial Statements

question 8

Multiple Choice

General Purpose Financial Statements:

• A) are only necessary for users who do not have the power to obtain information in addition to that contained within the General Purpose Financial Statement.
• B) provide all the information that users may need to make economic decisions.
• C) focus on disclosing information relevant to assessing the ability of an entity to generate future cash flows.
• D) meet the information needs that are common to all users.

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