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- 1. Multiple Choice
Customers
Internal User
External User
- 2. Multiple Choice
Production supervisor
Internal User
External User
- 3. Multiple Choice
Marketing manager
Internal User
External User
- 4. Multiple Choice
Suppliers
Internal User
External User
- 5. Multiple Choice
Government
Internal users
External users
- 6. Multiple Choice
who may need accounting information to decide which products to buy from which companies:
Investors
Creditors
Customers
Tax authorities
- 7. Multiple Choice
Users of accounting information are:
External users
External users and Internal users
Subsidiary users
Internal users
- 8. Multiple Choice
Identify this user of accounting information best depicted by the picture.
creditors
potential investors
management
seller
- 9. Multiple Choice
________ is recording, analyzing, and interpreting financial information there off.
Accounting
Balance Sheet
Income statement
revenue
- 10. Multiple Choice
All the following are the external users of accounting information EXCEPT
Taxing authorities
Creditors
Regulatory authorities
Management
- 11. Multiple Choice
Bookkeeping deals with the record-keeping process and is only one aspect of accounting
True
False
- 12. Multiple Choice
Which of the following statements is not true about external users?
External uses are people outside the company
External users are only interested in the information generated by financial records.
These people utilize their own money and resources to invest into a company.
They are people within the company directly involved in business operations.
- 13. Multiple Choice
These external users determine the borrower’s ability to meet scheduled payments using the accounting information of a company.
Creditors
Potential investors
Government and Tax Authorities
Competitors
- 14. Multiple Choice
What is the use of the financial reports to the creditors of a company?
to evaluate what income they can reasonably expect from their investment.
to determine ho much business earns in order to assess its tax liabilities
enable them to determine whether the company's loans and their interest attaching to them will paid when due
to check the development and changes in services and products
- 15. Multiple Choice
These people utilize their own money and resources to invest into a company.
Owner
Regulatory agencies
Creditors
Potential Investors
- 16. Multiple Choice
Why do government and tax authorities need accounting information?
to determine if its financial statement are in accordance with the rules and regulations
determine how much business earns in order to assess the amount of tax the business should pay.
to have a strong economic structure and keeping abreast of global economic
- 17. Multiple Choice
This group is interested in information about the continuance of an enterprise, specially when they have a long term involvement with or are dependent on the company’s offerings either in the form of goods or services.
customers
law makers
economic planner
government
- 18. Multiple Choice
Which of the following situations does not illustrate a internal user?
Employees of Butihing Maybahay Manufacturing Corporation, with an extensive line of household supplies and improvement options, have been raising concerns about their benefits.
Enrique Luis owns the Affordable Living Furniture Company. He plans to expand the business to include a new line of patio or terrace furniture.
The Securities and Exchange Commission has mandated the submission of reports from companies.
Angelo Lobo was promoted to the position of operations manager. As soon as he assumed his new position, he requested a report from the chief finance office
- 19. Multiple Choice
Enrique Luis owns the Affordable Living Furniture Company. He plans to expand the business to include a new line of patio or terrace furniture.
What type of user is illustrated in the statement?
Manager
Owner
Investor
Competitor
- 20. Multiple Choice
Which of the following groups uses accounting information for planning a company’s profitability and liquidity?
Managers
Employees
Creditors
Suppliers
- 21. Multiple Choice
Users need financial Information to allow them to make decisions. Which group of users might use financial information to answer this question:
Do we need to borrow in the near future?
Creditors
Finance
Management
Investors
- 22. Multiple Choice
True or False: Tax authorities use financial information to check whether the business is paying their debts or not.
True
False
- 23. Multiple Choice
Which of the following statements is not true about external users?
External uses are people outside the company
External users are only interested in the information generated by financial records.
These people utilize their own money and resources to invest into a company.
They are people within the company directly involved in business operations.
- 24. Multiple Choice
Book keeping is concerned with
recording financial data relating to business operations
designing for systems recording, classifying and summarising recorded data
Interpreting data for internal and external users
Sales and Purchase of Goods
- 25. Multiple Choice
A user of financial statement who is concerned with the performance of the business and its ability to give returns.
Investor
Lender
Trade Creditor
Customer
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