Which of the following statements is false?

CS Executive · Cost and Management Accounting · PYQS · June 2019
Which of the following statements is false?
(A) Financial statements take into consideration only the financial factors.
(B) Financial statements are primarily prepared for shareholders.
(C) Financial statements not serving any purpose to the probable shareholders, suppliers, lenders and other interested parties.
(D) Financial statements are essentially interim reports and therefore, cannot be final because the final gain/loss can be computed only at the termination of business.

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Financial Statement Analysis

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