Financial reports intended to serve the diverse needs of a variety of external user groups who are unable to obtain their own accounting information are known as:

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General purpose financial statements are intended to serve the diverse needs of external user groups, such as investors, creditors, analysts, and regulators, who are unable to obtain their own accounting information. These statements provide a summary of the financial position, performance, and cash flows of an entity, and are prepared in accordance with generally accepted accounting principles (GAAP). The primary objectives of general purpose financial statements are to provide relevant, reliable, and comparable information to assist users in making informed economic decisions.

Financial Reports Intended to Serve the Diverse Needs of a Variety