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Business Studies

Important of Financial Planning

Financial sta...

Question

Financial statements, provide the necessary information about the performance of the ____________.

A

owner

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B

management

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C

emplyoee

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D

none of the above

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Solution

The correct option is B management
Financial statements provide necessary information about the performance of management. The financial statements show the financial position of an organisation, thereby telling if the policies, procedures and methods used by the management were useful or not.

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Similar questions

Q. Financial statement are prepared to provide adequate, _______ and periodical information about economic resources and obligations of a business firm.

Q. Which of the following statement is true?
A. Financial statement provide information about cash flow.
B. Financial statement provide information about the credit earning capacity of the business.

Q. ________ provides information on the human attributes in terms of education, skills, aptitudes and experience necessary to perform a job effectively.

Q. Which of the following are the objective of financial statements?
A. To provide information about economic resources and obligations of a business.
B. To provide information about the earning capacity of the business.
C. To not judge effectiveness of management.
D. Disclosing accounting policies.

Information about accounting policies assists financial readers in better interpreting a company’s financial statements. It is given in ___

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