Information in financial reports is based on dash transaction.
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The information used in the financial reports is based on the financial transactions.
Explanation:
A financial transaction refers to the exchange of value. It is an act where an economic good or a service gets transferred to the agent or buyer or business with something in return.
The financial transactions help to measure the exact estimates and approximation in accounting of a business.
Therefore, the information used in the financial reports is based on the financial transactions and past events that have occurred already.
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Explanation:
The information contained in the financial report is based on the transaction
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