Question
Asked Dec 21, 2019
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The objective of financial reporting places most emphasis on:
a. reporting to capital providers.
b. reporting on stewardship.
c. providing specific guidance related to specific needs.
d. providing information to individuals who are experts in the field.

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Expert Answer

Step 1

Financial reporting: The financial results of an organization related to a period are declared and released to public is called financial reporting. It is the financial statements, that includes income statement, balance sheet, statement of stockholder’s equity and statement of cash flow and notes to accounts.

Step 2

The objective of financial reporting had most emphasis on reporting to capital providers. Financial reports are released to public who invest their monies in the organization. It provides a deep insight int...

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