Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 35 - No. 50)
What is the primary goal of financial reporting?
To provide information to internal management.
To provide financial information to external users to help them make economic decisions.
To minimize a company's tax liability.
To manage the day-to-day operations of a business.
Explanation
The main goal of financial reporting is to provide financial information to external users (investors, creditors, etc.) to help them make informed economic decisions.
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