MULTIPLE CHOICE QUESTIONS: (A1&D3) General-purpose financial statements are the product of financial accounting. managerial accounting. both financial and managerial accounting. neither financial nor managerial accounting. Users of financial reports include all of the following except creditors. government agencies. unions. All of these are users. The purpose of the International Accounting Standards Board is to issue enforceable standards which regulate the financial accounting and reporting of multinational corporations. develop a uniform currency in which the financial transactions of companies through-out the world would be measured. promote uniform accounting standards among countries of the world. arbitrate accounting disputes between auditors and international companies