Since financial statements report on past results,they are not particularly useful to investors and creditors,who want to predict future returns and their risks.

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Quizplus · Accepted Answer

This statement is false. While financial statements do report on past results, they are still useful to investors and creditors in predicting future returns and risks. Historical financial data can provide insight into a company's performance trends and financial health, which can help inform future investment decisions. Additionally, financial statements can be used in conjunction with other information, such as management commentary and industry analysis, to form a more complete picture of a company's potential for future success.

Since Financial Statements Report on Past Results,they Are Not Particularly