Financial Reports Prepared for a Variety of External Users Who

question 31

Multiple Choice

Financial reports prepared for a variety of external users who are unable to obtain the accounting information for their own specific needs are known as:

• A) external user reports.
• B) external purpose financial statements.
• C) non-specific user reports.
• D) general purpose financial statements.

---

Definitions:

Emotional Distress

A legal term for a psychological response, including anxiety, depression, or trauma, resulting from an experience or situation, often leading to potential compensation in lawsuits.

Prior Restraint

Prior restraint refers to government actions that prohibit speech or other expression before it can take place, often deemed unconstitutional in the context of the First Amendment to the United States Constitution.

New York Times

An American newspaper based in New York City with worldwide influence and readership, known for its comprehensive news coverage.

First Amendment

An amendment to the U.S. Constitution that protects freedom of speech, religion, assembly, the press, and the right to petition the government.