Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 12 - No. 34)
What is the purpose of preparing financial statements?
To provide information about the financial performance of a business
To show the financial position of a business
To assess the assets and liabilities of a business
To make quick business decisions
Explanation
Financial statements give stakeholders information, show financial performance, and are used to make decisions.
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