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According to GAAP, which is NOT a specific objective? A. to provide information about an enterprise's...

According to GAAP, which is NOT a specific objective?

A. to provide information about an enterprise's cash flows

B. to provide information that is useful to present to potential investors, creditors, and other users in making rational investment, credit, and similar decisions

C. to provide information about an enterprise's comprehensive income and its components

D. to provide information about an enterprise's economic resources, obligations, and owners' equity

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Answer #1

Answer : option D , because there is no compulsion about disclosing about economic resources and about it's obligations

GAAP basically concerned about only end users of financial statements ,

Preparation of enterprise cash flows is to better understanding of how they are investing available money or from where they are borrowing money .

Providing information about enterprise's comprehensive income and its components is also very much needed to understand how much they are making profit

GAAP basic objective is to provide information that is useful to present to potential investors, creditors, and other users in making rational investment, credit, and similar decisions

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