Classify the following users of information as either: I—internal user T—external user: trading partner S—external user: stakeholder a. Internal Revenue Service b. Inventory control manager c. Board of directors d. Customers e. Lending institutions f. Securities and Exchange Commission g. Stockholders h. Chief executive officer i. Suppliers j. Bondholders

Q: Who are the primary users of general-purpose financial statements? O A. Creditors O B. Investors OC.…

A: Introduction: Accounting: Accounting is an art of recording , classifying , summarizing and…

Q: Explain breifely about the theories of accounting regulation – public interest theory, capture…

A: The four theories of accounting regulation are: Public interest theory, Capture theory, Economic…

Q: Which of the following is an internal user of a company’s financial information? a. board of…

A: Internal users of the company's financial information refer to the people who manage the daily…

Q: Which of the following is not an external user of a business’s financial information? a. Taxing…

A: Financial information: The financial information of the company is used by many internal &…

Q: describe the duty of a stock broker (trader) who is acting as an agent on behalf of a principal…

A: Introduction: A stockbroker is a regulated broker, broker-dealer, or registered investment adviser…

Q: Identify the major types of Off-Balance Sheet (OBS) activities engaged by a financial institution…

A: Off balance sheet is the type of balance sheet where company does not reveal any information…

Q: Instructions Prepare a personal statement of financial position using the format you have learned…

A: Personal statement of financial statement gives a summary of net work by calculating the assets…

Q: In the functional responsibility of the Phillipines Stock Exchange, which of the following…

A: Stock Exchange is the place where the buying and selling of financial securities like stocks, bonds,…

Q: Classify each of the scenarios as an example of interacting directly with a financial market or…

A: Financial markets: It generally sits down with any platform where equity dealing exists including,…

Q: Financial Market is a market in which financial assets (securities) such as stocks and bon can be…

A: A financial market is a place where buyers and sellers of financial securities meet together in…

Q: Financial accounting serves which primary function(s)?  a. Measures business activities. b.…

A: Financial accounting is a branch of accounting which deals into summarisation, analysis and…

Q: analyze company disclosures of signifi cant accounting policies

A: Accounting principles are the principles that are framed by the Company to carry on the activities…

Q: Who among the following is a direct user of accounting information? Labor association Financial…

A: Users of accounting information is classified into 2 categories:  a. Direct users  b. Indirect users…

Q: iii) “Qualitative characteristics are the attributes that make information provided in financial…

A: The qualitative characteristics  Financial statement include 1. comparability 2. Reliability 3.…

Q: External users of fi nancial accounting information includeall of the following except:a. Investors.…

A: External Users:   The external users are the users of the information who are outside the…

Q: Accounting is the process of identifying, recording, analyzing, and communicating financial…

A: Accounting : The accounting is defined as the process of identifying the financial transaction,…

Q: The stream of customer instructions received by an stock exchange to buy and sell common stock is…

A: These are the instructions provided by the stock exchanges to its customers to buy and sell the…

Q: The body of rules and procedures that guide the measurement and communication of financial…

A: Accounting:   Accounting is a system, or a process of collecting and organizing economic…

Q: Which of the following is an internal user of a company's financial information?   A shareholder in…

A:

Q: Which one of the following journal entries is correct when payment for share issue expenses are…

A: There are three golden rules in accounting for recording the transaction : Debit what comes in ,…

Q: Explain each of the following items:a. Staff Accounting Bulletins.b. Wraparound filing.c.…

A: a. Staff Accounting Bulletins: Staff Accounting Bulletins are published by the staff of SEC. Its…

Q: International accounting can be defined in terms of which the following levels? A)Supranational…

A: International accounting can be defined in terms of supranational organisations level, company level…

Q: The users of accounting information such as investors, financiers, suppliers and government are…

A: Accounting information such as financial statements, Notes to accounts, etc will  be used by the…

Q: How do you distinguish between Financial Reporting for GAAP, and full Disclosure.

A: DISCLAIMER SINCE YOU HAVE ASKED MULTIPLE QUESTIONS, WE WILL SOLVE THE FIRST QUESTION FOR YOU. IF YOU…

Q: Identify the following questions as most likely to be asked by an internal (I) or an external (E)…

A: Users of financial information:   Users of financial information are broadly classified into two…

Q: Bank and investors are primary users of the management accounting Select one: O True Falsel

A: Primary  users of management  accounting  are internal users called as  Managers,   employees

Q: Explain the usefulness of Financial statement information to the following stakeholders:   i.…

A: Financial statement means the statement including income statement , balance sheet , cash flow…

Q: Classify the following users of information as: Internal Users, External Trading Partner, External…

A: Internal Users of the Information: Individuals within a company that utilizes financial information…

Q: Define business financial status

A: The financial status defines the status of a company’s well-being regarding. The financial status of…

Q: Under the Conceptual Framework of Financial Reporting, users of financial information may be…

A: SOLUTION-   USERS OF FINANCIAL INFORMATION-   A-INTERNAL USERS- 1-OWNER'S. 2-MANAGERS. 3-EMPLOYEES.…

Q: Describe the system of accounting standards and principles and utilize these in the preparation and…

A: Accounting standards are authoritative statements of how particular types of transactions or events…

Q: The main user group of management accounting is the O A. managers B. investors O C creditors O D.…

A: Management accounting includes ascertainment and allocation of cost incurred during the period. This…

Q: What significant information should each of the following be aware of in the financial statements…

A: Financial statements are the key documents of the organization which state the financial position of…

Q: Discuss the role of the financial manager or the Chief Finance Officer (CFO) in making decisions as…

A: Management means effectively use of given sources to get maximum gain. Financial management means…

Q: Which of the following is an internal user of company's financial information? a. company treasurer…

A: Internal users of the financial information are the person whose interest is directly involved in…

Q: Explain the impact of accounting standards suchas GAAP and the Sarbanes-Oxley Act on…

A: After a prolonged period of corporate scandals (e.g., Enron and Worldcom) in the United States from…

Q: What is the objective of financial reporting?

A: Answer:   Option c.

Q: Can a stockholders be an internal user of financial information?

A: Financial statement means the statement including income statement , balance sheet , cash flow…

Q: Accounting involves recording, analyzing and summarising the transactions of an entity to provide…

A: Accounting is the process of recording a business's financial transactions. The accounting process…

Q: Investment banking refers to O A. Activities related to underwriting and distributing new issues of…

A: INVESTMENT BANKERS HELP THE FIRM IN IPO.