Which of the follow statements regarding the primary objective of financial repo

Question

Which of the follow statements regarding the primary objective of financial reporting is correct? O A. O B. ° The primary objective of financial reporting is to provide information useful for the acquisition of long-term assets. Information that is faithfully represented is complete, neutral, and free from error. To be useful, information must ollow the Genera y Accepted Accounting Principles which are created and governed by the Securities and Exchange Commission Relevant information ensures that users of the information will make the correct decisions. O D.

Explanation / Answer

Ans.D. Relevant information ensures that users of the information will make the correct decisions. Explanations: The primary objective of financial reporting is to provide relevant information to its stakeholders for making decisions.

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