Which of the Following Is NOT Normally an Objective of Financial

question 74

Multiple Choice

Which of the following is NOT normally an objective of financial reporting?

• A) To provide information about an entity's assets and claims against those assets
• B) To provide information that is useful in assessing an entity's sources and uses of cash
• C) To provide information that is useful in lending and investing decisions
• D) To provide information about an entity's liquidation value

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Definitions:

Contra Account

An account used in the general ledger to reduce the value of a related account when the two are netted together.