Question

Financial reports are used by a.management b.creditors c.investors d.All of these choices are correct.

Answer 1

Financial reports are used by management, creditors, and investors. Thus the correct option is D.

What is the objective of financial reports?

The financial report is the statement or description of the income and expenses that took place in the organization. This report is prepared to analyze the financial position of any organization.

This helps to understand whether the organization is achieving profitability or not. These help investors to know about the current position of the organization in the market.

It helps management to estimate the turnover along with profitability to determine the assets and liabilities records in the financial year.

It helps creditors to assess the company's creditworthiness and ability to make payments on its debt in a timely manner.

Therefore, in option D all of the above, creditors, investors, and management used financial reports.

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