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ARA > CHAPTER 1 > Flashcards

CHAPTER 1 Flashcards

1
Q

What is the objective of GPFR

A

To provide useful financial information that can be used by investors, lenders and other creditors in making decisions (buy, hold, sell, loan money, settle loans) concerning the entity.

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2
Q

What is a flaw of GPFR

A

To a large extent, based on estimates, judgments and models rather than exact depictions

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3
Q

What is the objective of GPFR

A
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ARA (4 decks)

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