Answer
False.
Work Step by Step
Apart from the issuers of capital, there are other users who are beneficiaries of the financial reports intended for general purposes. Examples of other users include loaners and the government.
Intermediate Accounting 14th Edition
by Kieso, Donald E.; Weygandt, Jerry J.; Warfield, Terry D.
Published by
Wiley
ISBN 10:
0470587237
ISBN 13:
978-0-47058-723-2
Chapter 2 - Conceptual Framework for Financial Reporting - Exercises - Page 71: E2-1d
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