The following are users of fi nancial statements. ________Customers ________Securities and Exchange Commission ________Internal Revenue Service ________Store manager ________Labor unions ________Suppliers ________Marketing manager ________Vice president of fi nance ________Production supervisor Instructions Identify the users as being either external users or internal users. (b) The following questions could be asked by an internal user or an external user. ________Can we afford to give our employees a pay raise? ________Did the company earn a satisfactory income? ________Do we need to borrow in the near future? ________How does the company’s profi tability compare to other companies? ________What does it cost us to manufacture each unit produced? ________Which product should we emphasize? ________Will the company be able to pay its short-term debts? Instructions Identify each of the questions as being more likely asked by an internal user or an external user.
The following are users of fi nancial statements. ________Customers ________Securities and Exchange Commission ________Internal Revenue Service ________Store manager ________Labor unions ________Suppliers ________Marketing manager ________Vice president of fi nance ________Production supervisor Instructions Identify the users as being either external users or internal users. (b) The following questions could be asked by an internal user or an external user. ________Can we afford to give our employees a pay raise? ________Did the company earn a satisfactory income? ________Do we need to borrow in the near future? ________How does the company’s profi tability compare to other companies? ________What does it cost us to manufacture each unit produced? ________Which product should we emphasize? ________Will the company be able to pay its short-term debts? Instructions Identify each of the questions as being more likely asked by an internal user or an external user.
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter9: Auditing The Revenue Cycle.
Section: Chapter Questions
Problem 4CYBK
Related questions
Question
The following are users of fi nancial statements.
________Customers ________Securities and Exchange Commission
________Internal Revenue Service ________Store manager
________Labor unions ________Suppliers
________Marketing manager ________Vice president of fi nance
________Production supervisor
Instructions
Identify the users as being either external users or internal users.
(b) The following questions could be asked by an internal user or an external user.
________Can we afford to give our employees a pay raise?
________Did the company earn a satisfactory income?
________Do we need to borrow in the near future?
________How does the company’s profi tability compare to other companies?
________What does it cost us to manufacture each unit produced?
________Which product should we emphasize?
________Will the company be able to pay its short-term debts?
Instructions
Identify each of the questions as being more likely asked by an internal user or an external
user.
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