How often do companies prepare general purpose financial statements?
A)At least once a year.
B)Only when asked for by a stakeholder.
C)Every time management needs to make a financial decision.
D)As often as GAAP requires.

Question

Quizplus · Accepted Answer

Companies are required to prepare general purpose financial statements at least once a year as per legal requirements and regulations. This helps stakeholders to assess the financial health of a company and make informed decisions.

How Often Do Companies Prepare General Purpose Financial Statements