A company's financial statements reflect information about
A)future projections of sales,expenses,and other future economic events.
B)product information and competitive positions.
C)the general economy of the industry in which the company operates.
D)economic events that affect a company that can be translated into accounting numbers.

Question

Quizplus · Accepted Answer

A company's financial statements provide information about economic events that have already occurred and can be translated into accounting numbers, such as revenues, expenses, assets, and liabilities. Financial statements do not typically provide information about future projections, product information, competitive positions, or the general economy of the industry in which the company operates.

A Company's Financial Statements Reflect Information About