purpose of preparation of financial statements
Chapter9: Responsibility Accounting And Decentralization
Section: Chapter Questions
Problem 11MC: A system that establishes financial accountability for operating segments within an organization is...
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Financial statements are prepared in the light of applicable financial reporting framework. What is the purpose of preparation of financial statements
a. To assist management in takin managerial decisions O b. For ascertainment and control of cost of product
c. For ascertainment and control of cost of service
d. To know financial performance, position and contribution of owner in the business
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