The FASB concluded that the most general objective of financial reporting is to

A) provide information useful in the decisions made by external users
B) meet the needs of internal users
C) provide information about an entity's earnings
D) provide information about an entity's cash flows

General Objective

A broad primary goal or aim that an organization or individual plans to achieve in the long term.

Financial Reporting

The procedure of making known the financial situation of an organization to its management, those who invest in it, and the government.

External Users

Individuals or entities outside a company who use financial information to make decisions about the company, such as investors, creditors, and regulatory bodies.