Financial reports prepared for a variety of external users who are unable to obtain the accounting information for their own specific needs are known as: a. External user reports. b. External purpose financial statements. c. Non-specific user reports. d. General purpose financial statements.
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Step 1: Financial reports prepared for a variety of external users who are unable to obtain the accounting information for their own specific needs are known as general purpose financial statements. Show more…
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Investors and analysts must have certain capabilities regarding financial reporting which include: Multiple Choice an understanding of current financial reporting standards. recognition that management selects the financial reporting standards used. an ability to recognize that financial statement information reported is grounded in judgment as well as facts. all of these answer choices are correct.
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