The United States and the international standard-setting environment are primarily driven by meeting the needs of

Question

Quizplus · Accepted Answer

The primary users of financial statements are investors and creditors, who rely on financial information to make informed decisions about allocating their resources. Therefore, the United States and the international standard-setting environment are primarily driven by meeting the needs of investors and creditors. This is consistent with the objective of financial reporting under both US GAAP and IFRS, which is to provide useful information to investors and creditors for decision-making purposes.

The United States and the International Standard-Setting Environment Are Primarily