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What is the objective of financial reporting? Provide information that excludes claims to the resources. Provide information about the reporting entity that is useful to

What is the objective of financial reporting?

Provide information that excludes claims to the resources.

Provide information about the reporting entity that is useful to present and potential equity investors, lenders, and other creditors.

Provide information that is useful to management in making decisions.

Provide information that clearly portrays nonfinancial transactions.

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