Prospective financial statements may be prepared for:
A)only general use.
B)only limited use.
C)only internal use.
D)general, limited, and internal use.

Question

Quizplus · Accepted Answer

Prospective financial statements can be useful for various purposes, including general use by external parties such as investors and creditors, limited use by specific parties such as lenders or potential buyers, and internal use by management. Therefore, they can be prepared for general, limited, and internal use.

Prospective Financial Statements May Be Prepared For