Which of the Following Statements Concerning the Objectives of Financial

question 34

Multiple Choice

Which of the following statements concerning the objectives of financial reporting is correct?

• A) The objectives are intended to be specific in nature.
• B) The objectives are directed primarily toward the needs of internal users of accounting information.
• C) The objectives were the end result of the FASB's conceptual framework project.
• D) The objectives encompass not only financial statement disclosures,but other information as well.

---

Definitions:

Habituation

A psychological learning process wherein there is a decrease in response to a stimulus after being repeatedly exposed to it.

Egalitarian

A principle or belief in the equality of all people, especially in political, economic, or social life.

Sensitivity

Sensitivity is the capacity of an individual to perceive, feel, or be aware of external stimuli, internal states, or the emotions of others.

Gender Awareness

The understanding and recognition of gender and its roles in society, typically developed in early childhood.