Which of the Following Statements About the Objectives of Financial

Multiple Choice

Which of the following statements about the objectives of financial reporting is false?

A) The financial reporting objectives indicate that accrual accounting provides the best information for decision makers and there is no need for information related to cash.
B) Financial reports should provide information that is useful in making investing, lending, and other economic decisions.
C) Financial reports should provide information that is useful to decision makers in predicting the future cash flows of businesses and future cash dividends from those businesses.
D) Financial reports should provide information about the assets and liabilities of businesses and the transactions and other events that have resulted in changes in those assets and liabilities.
E) Statements a and c are false.