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Which of the following statements about financial statements is incorrect? They are the primary responsibility of the management of the They show the results of the stewardship of the management for the resources entrusted to it by the capital They are prepared at least annually and are directed to both the common and specific information needs of a wide range of statement The provide information about the financial position, performance and cash flows of an enterprise that is useful to a wide range of users in making economic

Which of the following statements about financial statements is incorrect? They are the primary responsibility of the management of the They show the results of the stewardship of the management for the resources entrusted to it by the capital They are prepared at least annually and are directed to both the common and specific information needs of a wide range of statement The provide information about the financial position, performance and cash flows of an enterprise that is useful to a wide range of users in making economic

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter2: Financial Reporting: Its Conceptual Framework
Section: Chapter Questions
Problem 7C
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  1. Which of the following statements about financial statements is incorrect?
    • They are the primary responsibility of the management of the
    • They show the results of the stewardship of the management for the resources entrusted to it by the capital
    • They are prepared at least annually and are directed to both the common and specific information needs of a wide range of statement
    • The provide information about the financial position, performance and cash flows of an enterprise that is useful to a wide range of users in making economic
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