The Statement Concerning General-Purpose Financial Reports That Is Correct Is

Multiple Choice

The statement concerning general-purpose financial reports that is correct is:

A) Potential users of the reports are in a strong bargaining position to demand information from the entity to meet their needs
B) No particular group of users of the reports is provided with ideal information for their needs
C) The objective of the reports is to meet the needs of both external and internal users
D) The reports specifically attempt to meet all the information needs of shareholders