The basic financial reports of a business provide users with information about all of the following with the exception of
A)claims against the assets (liabilities and owner's equity).
B)economic resources (assets).
C)competitors of a business.
D)profits.

Question

Quizplus · Accepted Answer

The basic financial reports of a business provide information about claims against the assets (liabilities and owner's equity), economic resources (assets), and profits. However, they do not provide information about competitors of a business.

The Basic Financial Reports of a Business Provide Users with Information