What is a major objective of financial reporting?

Question

Quizplus · Accepted Answer

The major objective of financial reporting is to provide information that is useful for decision-making. However, among the choices given, only choice C specifically mentions providing information that helps assess cash receipts, which is a key aspect of financial decision-making. Choices A and B are also important objectives, but they do not address the issue of cash receipts as directly as choice C. Choice D is incorrect, as financial reporting must account for all claims to resources.

What Is a Major Objective of Financial Reporting