Objectives of financial reporting to external investors and creditors include preparing information about all of the following except:
A)Information used to determine which products to produce.
B)Information about economic resources,claims to those resources,and changes in both resources and claims.
C)Information that is useful in assessing the amount,timing,and uncertainty of future cash flows.
D)Information that is useful in making investment and credit decisions.

Question

Quizplus · Accepted Answer

Financial reporting to external investors and creditors is primarily focused on providing information that is useful in making investment and credit decisions. It includes information about economic resources, claims to those resources, and changes in both resources and claims. It also helps in assessing the amount, timing, and uncertainty of future cash flows. However, it is not concerned with preparing information about which products to produce.

Objectives of Financial Reporting to External Investors and Creditors Include