According to GAAP, which is not a specific objective?
A)to provide information about an enterprise's cash flows
B)to provide information that is useful to present to potential investors, creditors, and other users in making rational investment, credit, and similar decisions
C)to provide information about an enterprise's comprehensive income and its components
D)to provide information about an enterprise's economic resources, obligations, and owners' equity

Question

Quizplus · Accepted Answer

The objective of providing information that is useful to present to potential investors, creditors, and other users is a general objective of financial reporting, not a specific objective according to GAAP.

According to GAAP, Which Is Not a Specific Objective