Most of a firm's proprietary accounting information is reported to the general public in the firm's annual report.

Question

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Most of a firm's proprietary accounting information is not reported to the general public in the firm's annual report. This information is kept confidential and is only shared with key stakeholders such as top management, board of directors, and auditors. The information that is shared in the annual report is usually in summary form and is intended to provide a general overview of the firm's financial performance and position for the benefit of stakeholders such as investors, creditors, and regulators.

Most of a Firm's Proprietary Accounting Information Is Reported to the General