An entity where it is reasonable to expect the existence of users dependant on general-purpose financial reports for information to use in economic decision making is known as a:

Question

Quizplus · Accepted Answer

A reporting entity is an entity that produces general-purpose financial reports that are used by external users to make economic decisions. Therefore, it is reasonable to expect the existence of users who depend on these reports for information. The other choices do not accurately describe this type of entity.

An Entity Where It Is Reasonable to Expect the Existence