Determine the response that best completes the following statements or questions. 1. The primary objective of financial reporting is to provide information About a firm's financing and investing activities. Useful to capital providers. Concerning the changes in financial position resulting from the income-producing efforts of the entity. About a firm's management team. 2. Statements of Financial Accounting Concepts issued by the FASB Identify the conceptual framework within which accounting standards are developed. Are subject to approval of the SEC. Represent GAAP. Have been superseded by SFASS