Which of the following is not one of the purposes of financial statements?    a) Presenting useful information for decision makers  B) Giving information about the financial situation of the business  NS) To provide information about the operating results of the business  D) Giving information about the stock items of the business  TO) Giving information about the cash flows of the business

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

14 -

Which of the following is not one of the purposes of financial statements?

 
 a)

Presenting useful information for decision makers

 B)

Giving information about the financial situation of the business

 NS)

To provide information about the operating results of the business

 D)

Giving information about the stock items of the business

 TO)

Giving information about the cash flows of the business

Expert Solution
Financial Statement

Financial statement typically contains

  • Income Statement
  • Balance Sheet
  • Cash flow statement

Income statement provides the operating results of the business.

Balance sheet summarises the financial position of the business.

Cash flow statement provides the information regarding the usage of cash by the business.

Financial statements helps its users in making informed decisions

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Stakeholders
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education