The purpose of generating financial statements is to provide useful information to users to evaluate economic entities and make efficient resource allocation decisions based on the risks and returns of a particular investment. The Financial Accounting Standards Board (FASB) identifies investors, lenders and management as the primary users of the financial statements. B. The purpose of generating financial statements is to provide useful information to users to evaluate economic entities and make efficient resource allocation decisions based on the risks and returns of a particular investment. The Financial Accounting Standards Board (FASB) identifies investors, lenders and other creditors as the primary users of the financial statements. C. The purpose of generating financial statements is to comply with the regulatory requirements of the Financial Accounting Standards Board (FASB). FASB identifies investors, lenders and other creditors as the primary users of the financial statements. D. The purpose of generating financial statements is to comply with the regulatory requirements of the Financial Accounting Standards Board (FASB). FASB identifies investors, lenders and management as the primary users of the financial statements.