In Statement of Financial Accounting Concepts No.1,"Objectives of Financial Reporting by Business Enterprises," the Financial Accounting Standards Board presents the objectives of financial reporting.
Required:
Identify the three major objectives of financial reporting and explain the interrelationships that exist between these objectives.

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The Answer of In Statement of Financial Accounting Concepts No.1,"Objectives of Financial Reporting by Business Enterprises," the Financial Accounting Standards Board presents the objectives of financial reporting.
Required:
Identify the three major objectives of financial reporting and explain the interrelationships that exist between these objectives.