Which of the following is not a function of financial statements as stated in the text?
A)Assessing managerial performance
B)Valuing the company
C)Providing accurate information to taxing agencies
D)Making credit decisions

Question

Quizplus · Accepted Answer

While financial statements do provide information for tax reporting purposes, their primary functions are not related to complying with tax laws or providing information to tax agencies. The three main functions of financial statements are assessing managerial performance, valuing the company, and making credit decisions.

Which of the Following Is Not a Function of Financial