chapter 4 questions 1 the objective of financial reporting is to provide useful information for users statements relevant decision making future data especially dealing with cash flows primary reflect economic transactions and events that have taken place past used help project income however only one many sources flow balance sheet statement also furnish upon which other may be projected by investor in summary contains some decisions 2 two approaches can measure capital maintenance approach transaction uses elements determine change total equity after eliminating any investments withdrawals resources owners determines analyzing individual their effect on related assets liabilities although method determining differs both arrive at same figure if attributes measurements are
