BE7-3 According to the FASB’s conceptual framework, which of the following are objectives of financial reporting? (Use “Yes” or “No” to answer this question.)

(a) __ Provide information that is helpful in assessing past cash flows and stock prices.

(b) __ Provide information that is useful to those making investment and credit decisions.

(c) __ Provide information that identifies the economic resources (assets), the claims to those resources (liabilities), and the changes in those resources and claims.

Identify items included in conceptualframework.

(SOI)

Identify objectives offinancial reporting.

(SO 2)