The shareholder does not need a statement of financial position as only interested in future performance, while a supplier of goods on credit needs a statement of financial position, as they are only interested in the current state of affairs.
举一反三
- Which of the following statements is/are true? 1.A supplier of goods on credit is interested only in the statement of financial position, ie an indication of the current state of affairs. 2.The objective of financial statements is to provide information about the financial position, performance and changes in financial position of an entity that is useful to wide range of uses in making economic decisions. A: 1 only B: 2 only C: Both 1 and 2 D: Neither 1 or 2
- In financial needs assessment, the only thing we need to do is to assess the financial needs of the venture in an expected future with reasonable assumptions.
- Loans A: Statement of profit or loss B: Statement of financial position
- The income statement shows the financial position of a company on a certain date.
- Which financial statement reports the financial position of a company at a point in time? A: Balance sheet B: Statement of owner’s equity C: Cash flow statement D: Income Statement