According to the research of Christopher Nobes,the most relevant factor in determining the purpose of financial reporting is:

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Christopher Nobes suggests that the way a country finances businesses is the most relevant factor in determining the purpose of financial reporting. This is because the method of financing can impact the information needs of users of financial statements, and therefore affect the content and format of financial reporting. For example, if a country relies heavily on debt financing, creditors may have a greater need for information on a company's liquidity and solvency, and financial reporting may focus more on these areas.

According to the Research of Christopher Nobes,the Most Relevant Factor