Current financial reporting standards assume that users of accounting information:
A)Have a reasonably informed knowledge of business.
B)Have an expert's understanding of economic and financial events and conditions
C)Have widely differing levels of knowledge about business, and that financial reporting must meet these differing needs.
D)Have only minimal knowledge of business.

Question

Quizplus · Accepted Answer

Current reporting standards target users that have a reasonably informed knowledge of business, though that level of sophistication is difficult to define.

Current Financial Reporting Standards Assume That Users of Accounting Information