Which of the following is NOT an objective of financial reporting?
A) to provide information about an entity's economic resources, obligations, and equity/net assets
B) to provide information that is useful to investors and creditors and other users in making resource allocation decisions and/or assessing management stewardship
C) to provide information that is useful in assessing the economic performance of the entity
D) to provide the most useful information possible even if the costs exceed the benefits

Question

Quizplus · Accepted Answer

Providing the most useful information possible even if the costs exceed the benefits is not an objective of financial reporting as it is not cost-effective. Financial reporting aims to provide information that is relevant and useful to users while keeping the costs of producing and providing that information reasonable.

Which of the Following Is NOT an Objective of Financial