The objective of financial reporting is: A. To provide the market value of a firm at a point in time. B. To provide the total market value of its common stock C. To provide information useful for decision making by investors and creditors D. To require all companies to comply with GAAP The sales manager of a firm has the use of a blue company-owned automobile to use to visit potential customers. The sales manager also owns her own identical car except that it is red. The manager paid for the red car with funds earned from her employment as sales manager. The firm will report the cost of the blue auto in its balance sheet, but not the red auto. This is an example of A. Reliability B. Matching C. Separate entity D. Going concern E. None of these answers are correct