Financial report users need information about

Question

Quizplus · Accepted Answer

Financial report users need information on profits to assess the company's financial performance. They also require information on economic resources (assets) to evaluate the company's ability to generate profits in the future. Finally, information on claims against the assets (liabilities and owner's equity) is necessary to understand the company's financial obligations and assess its financial stability. Therefore, all of the above options are required for financial reporting purposes.

Financial Report Users Need Information About