1. Which one best explains the general purpose of financial reporting? a. Aims to provide useful financial information about the reporting entity to primary users who cannot require the reporting entity to provide information directly to them O b. Aims to provide guideline on preparing, measuring, recording and presenting financial statement O c. All options are not correct O d. Aims to respond to the requirements of users that have the authority to require reporting entity to provide information that the users need e. Aims to provide information about financial statements elements