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The objective o f financial reporting a s outlined i n the conceptual framework guides the financial reporting process. Identify whether each o f the

The objective of financial reporting as outlined in the conceptual framework guides the financial reporting process. Identify whether each of the following phrases aligns with the objective of financial reporting or not.
a.Provides information on general-purpose financial information. Answer 1
b.Provides information on specialized financial information. Answer 2
c.Focused on financial reporting needs of internal financial statement users. Answer 3
d.Focused on financial reporting needs of external financial statement users. Answer 4
e.Provides information for an identifiable accounting unit with distinct economic activities. Answer 5

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