18. Assume that you want to determine the amount of gross profit for a company. Which of the following financial statements is the BEST source of this information? A B D Statement of Retained Earnings Statement of Stockholders' Equity Statement of Cash Flows Income Statement 19. Which of the following is (are) the objective (objectives) of financial reporting? A. To provide information to comply with laws and other regulations B. To provide information to all users, including meeting the social needs of society C. To provide information to specific groups of users D. All of the above 20. is the primary means of communicating important financial and non-financial accounting information to users in helping them to make economic decisions. Accountant Report Audit Committee Report C. Corporate Governance Report D. Annual Report A B. 21. The financial statements are usually compiled in compliance with the A. Malaysian Financial Recording Standards. B. Malaysian Fundamental Reporting Systems, C. Malaysian Financial Reporting Standards. D. Malaysian Federal Recording Standards. 22. Who is ultimately responsible to disclose all the relevant information to internal and external users? A. B. C. D. Accountant Board of directors Chairman Debtor