Which of the following is a general limitation of "general purpose financial statements"?
A) General purpose financial statements may not be the most informative for a specific enterprise.
B) General purpose financial statements are not comparable.
C) General purpose financial statements do not fairly present a company's financial operations.
D) None of the answer choices are correct.

Question

Quizplus · Accepted Answer

General purpose financial statements are designed to provide information to a wide range of users, which may not always be tailored to the specific needs of a particular enterprise. As a result, there may be limitations in the usefulness of general purpose financial statements for certain users.

Which of the Following Is a General Limitation of "General