The FASB has determined that the primary focus of financial reporting about an entity's performance is information on
A)resources and obligations
B)management's stewardship of resources
C)comprehensive income and its components
D)cash flows and financial flexibility

Question

Quizplus · Accepted Answer

Comprehensive income and its components are the primary focus of financial reporting about an entity's performance as determined by the FASB, as they provide a complete view of the financial results and changes in financial position of an entity.

The FASB Has Determined That the Primary Focus of Financial