The principal function of financial statements is to:
A. convey information to managers, investors, and creditors.
B. provide benchmark information for projecting the firm's future performance.
C. inform the firm's shareholders of its likely prospects for growth and cash flows.
D. all of the above
Answer:D
The principal function of financial statements is to:
A. convey information to managers, investors, and creditors. B. provide benchmark information for projecting the firm's future performance. C. inform the firm's shareholders of its likely prospects for growth and cash flows. D. all of the above