Orgo Chapter 22&23 Save
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Primary Objective of Financial Reporting to External Users -correct answer_to provide useful economic info about a business to help external parties (potential investors, lenders, and other creditors) make sound financial decisions -You must understand accounting concepts to understand how to use this info -Looked at by customers and suppliers -Mainly used to assess the amount, timing, and uncertainty of a business's future cash inflows and outflows -Ex. creditors and potential creditors need...
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Primary Objective of Financial Reporting to External Users -correct answer_to provide useful economic info about a business to help external parties (potential investors, lenders, and other creditors) make sound financial decisions -You must understand accounting concepts to understand how to use this info -Looked at by customers and suppliers -Mainly used to assess the amount, timing, and uncertainty of a business's future cash inflows and outflows -Ex. creditors and potential creditors need...