'General purpose' in the term general-purpose financial reports refers to the fact that the reports are:

Question

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General-purpose financial reports are designed to be useful for a wide range of users, including investors, creditors, regulators, and others who have an interest in the financial health of an organization. These reports provide a general overview of the organization's financial position, performance, and cash flows, and are intended to be understandable and relevant to a broad audience. While general-purpose financial reports may be reliable, up-to-date, and widely available, their primary purpose is to serve the needs of multiple stakeholders.

'General Purpose' in the Term General-Purpose Financial Reports Refers to the Fact