According to the FASB and IASB conceptual frameworks, the primary users of financial reports include all of the following, except:
　　a. Investors.
　　b. Lenders.
　　c. Creditors.
　　d. Regulators.
　　Explanation
　　Choice "d" is correct. The FASB and IASB conceptual frameworks indicates that regulators are not considered to be primary users.
　　Choice "a" is incorrect. Investors are primary users.
　　Choice "c" is incorrect. Creditors are primary users.
　　Choice "b" is incorrect. Lenders are primary users.