Question

What is the purpose of disclosing financial performance for a specified period?

a.

To limit the information available to investors

b.

To facilitate understanding of the economic impact of changes

c.

To hinder regulatory supervision

d.

To discourage transparency

Answer: (b).To facilitate understanding of the economic impact of changes Explanation:Disclosing financial performance for a specified period facilitates understanding of the economic impact of changes, including the basis, methods, and assumptions.

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Q. What is the purpose of disclosing financial performance for a specified period?

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