The FASB's conceptual framework for financial reporting objectives identify _____as the principal users of financial reports.
A)current and potential investors, only
B)management, only
C)current and potential employees, only
D)the Federal, State, and Local governments, only
E)current and potential investors and creditors

Question

Quizplus · Accepted Answer

The FASB's conceptual framework identifies current and potential investors and creditors as the principal users of financial reports. While management and employees may use financial reports, they are not considered the primary users. The governments also have access to financial reports, but they are not identified as the main users.

The FASB's Conceptual Framework for Financial Reporting Objectives Identify _____As