Annual reports are prepared by a firm's management to

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Annual reports are primarily prepared to provide an overview of a firm's financial and operating performance over the past year. They typically include financial statements, management discussion and analysis, and other relevant information related to the firm's activities during the reporting period. While the report may touch on challenges or areas for improvement, its primary purpose is to inform shareholders, investors, and other stakeholders about the firm's results, strategy, and outlook.

Annual Reports Are Prepared by a Firm's Management to