4)Which of the following statements about users of accountinginformation is incorrect?a) Management is an internal user.b) Taxing authorities are external users.c) Present creditors are external users.d) Regulatory authorities are internal users.Answer: d Show
5)The cost principle states that: Get answer to your question and much more 6)Which of the following statements about basic assumptions iscorrect? Get answer to your question and much more We don’t have your requested question, but here is a suggested video that might help. Related Question'Which of the following statements correctly distinguishes between management accounting and financial accounting? A. Financial accounting is oriented toward the future B. Financial accounting is primarily concerned with providing information for internal users: C Management accounting is oriented more toward the planning and, control aspects of management D. Management accounting reports on the whole organization:'
Answer: d. Regulatory authorities are internal users. Explanation: plsss rate it the answer thank u +-+ All the following statements about users of accounting information are correct EXCEPT Present creditors are considered as external users Taxing authorities are considered as external users Regulatory authorities are considered as internal users Management is considered as internal users  Students who’ve seen this question also like: Related Accounting Q&AFind answers to questions asked by students like you. Q: Describe the various types of individuals who use accounting information and how they use that… A: Click to see the answer Q: Describe the various types of individuals who use accounting information and how they use that… A: Click to see the answer Q: A summary of the company’s significant accounting policies is a required disclosure. Why is this… A: Disclosure of accounting policies: Disclosure of accounting policies means disclosing the accounting… Q: which statement about users of accounting information is incorrect? Question 4 options:… A: The persons who work within a company and use financial data are known as the Internal users.… Q: For each of the following situations, (1) indicate whether you agree or disagree with the financial… A: Gulf Engineering records revenue only after products have been shipped, even though customers pay… Q: For each of the following situations, (1) indicate whether you agree or disagree with the financial… A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for… Q: Identify the following users of accounting information as either an (a) external or (b) internal… A: Internal Users: The internal users are the users of the information who are within the… Q: What is the relevance of the Accounting Information System in today's accounting practice, and how… A: SOLUTION THE PURPOSE OF ACCOUNTING INFORMATION SYSTEM IS TO COLLECT ,STORE AND PROCESS FINANCIAL AND… Q: Which principle or concept states that businesses should use the same accounting methods and… A: Answer: c) Consistency In accounting the concept of consistency states that company should maintain… Q: Which of the following statements about accounting recognition is (are) true? A: An asset can be reported in the balance sheet of the company if it has provided the economic benefit… Q: Which principle or concept states that businesses should use the same accounting methods and… A: Click to see the answer Q: Statement 1: The primary responsibility for the preparation and presentation of the financial… A: Statement 1 True, The preparation and presentation of entities financial statements are the… Q: Which one of the following statements is not correct regarding financial ?accounting and management… A: Financial accounting is a branch of accounting in which all accounting and financial information is… Q: The following are characteristics of financial accounting, except A. It is used by both internal… A: Financial Accounting: It is a technique of recording, summarizing, and reporting the transactions… Q: Which of the following is not one of the basic concepts of accounting? A) RESPONSIBILITY B)… A: Accounting:- It can be defined by recording the transactions in a systematic order and should be… Q: Which one of the following statements is not correct regarding financial accounting and management… A: The correct option is B. Only financial accounting involves the use of accounting information Q: Shareholders are extemal users of accounting information. A: Shareholders are the owners of the company who own its share capital. Q: Which one of the following statements is not correct regarding financial accounting and management… A: Option E is not correct regarding financial accounting and management accounting. Explanation of… Q: How reported accounting numbers can affect an individual's perceptions and actions. A: Financial reporting means releasing the financial reports of the company to its shareholders and in… Q: Explain why establishing accounting standards is characterized as a political process. A: Accounting standard refers to the set of principles, standards and guidelines which are followed in… Q: Explain why establishing accounting standards is characterized as a political process. A: There are several groups that influence the standard setting process. The standard setting process… Q: Professional judgment plays a major role in the practice of accounting.a. In general terms, explain… A: Accounting process: Accounting process is a system of collecting and organizing economic… Q: A summary of the company’s significant accounting policies is a required disclosure. Why is this… A: Explain the importance of disclosure of accounting policies to external users of financial… Q: Who are the most important consumers of accounting information and why do they need it? What kind of… A: Here is the Answer Q: An organization’s investors and creditors will primarily use information provided by:a. the… A: Financial accounting: Financial accounting is the process of recording, summarizing, and reporting… Q: Ethics is the most fundamental principle of accounting. Comment. A: ethics are the moral principles that help in differentiating between wrong and right. Q: An item that meets the definition of an accounting element should be given recognition in the… A: Accounting Elements:- Assets, Liabilities, Equity, Capital, Drawings, Revenue, and Expenses are the… Q: Accounting is categorized as a supporting process in managing operations of any organization O a.… A: There are three processes in managing the operation of any organization Upper Management process… Q: Which one of the following statements is not correct regarding financial accounting and management… A: Financial accounting is a branch of accounting which means preparation and circulation of financial… Q: PURPOSE OF ACCOUNTING Describe the kind of information needed by the users listed.Owners (present… A: Accounting serves the purpose of rendering the required information to different users of financial… Q: Which of the following is a valid assumption from an accounting perspective? O A company that has… A: Accounting Principles: The principles or procedures that are required to prepare and report the… Q: Identify the following users of accounting information as either an (a) external or (b) internal… A: External users of accounting information are users outside the organisation that use information for… Q: Which among the following is an external user of accounting information? a. Government authorities… A: Accounting information means financial statements and results that are useful for decision makers… Q: A change in accounting policy should be made only I. if Required by statute. II. Required by the… A: Answer is option A. I, II and III. Q: The accounting and disclosure requirements for changes in accounting policie A: This question explains about the accounting and disclosure requirements for changes in accounting… Q: Discuss agency theory, including its basic assumptions, agency relationships, why the political… A: Click to see the answer Q: Which pronouncements are not issued by the FASB? a. Statements of Financial Accounting Concepts b.… A: FASB is an accounting standard board, the main purpose of which is to establish the GAAP (Generally… Q: Financial accounting is one of the branches of accounting specialized in recording, classifying,… A: Financial accounting is used to prepare financial statement which helps in calculating Revenue… Q: Why is an entity permitted to change an accounting policy? a. The change would allow the entity to… A: Accounting policy is the rule or method which is adapted by any entity according to the accounting… Q: What is accounting? Explain and debate the accounting rules and assumptions. A: Introduction : Accounting is the process of recognizing, documenting, summarizing, analyzing,… Q: Generally accepted accounting principles require that companies use the _____ of accounting.… A: Accounting concepts: These are the set of rules and guidelines which every company must follow in… Knowledge Booster Learn more about Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below. SEE MORE QUESTIONS Recommended textbooks for you Principles of Accounting Volume 2 ISBN:9781947172609 Author:OpenStax Publisher:OpenStax College College Accounting, Chapters 1-27 ISBN:9781337794756 Author:HEINTZ, James A. Publisher:Cengage Learning, Managerial Accounting: The Cornerstone of Busines... ISBN:9781337115773 Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger Publisher:Cengage Learning Intermediate Accounting: Reporting And Analysis ISBN:9781337788281 Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach Publisher:Cengage Learning Principles of Accounting Volume 1 ISBN:9781947172685 Author:OpenStax Publisher:OpenStax College Financial And Managerial Accounting ISBN:9781337902663 Author:WARREN, Carl S. Publisher:Cengage Learning, Principles of Accounting Volume 2 ISBN:9781947172609 Author:OpenStax Publisher:OpenStax College College Accounting, Chapters 1-27 ISBN:9781337794756 Author:HEINTZ, James A. Publisher:Cengage Learning, Managerial Accounting: The Cornerstone of Busines... ISBN:9781337115773 Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger Publisher:Cengage Learning Intermediate Accounting: Reporting And Analysis ISBN:9781337788281 Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach Publisher:Cengage Learning Principles of Accounting Volume 1 ISBN:9781947172685 Author:OpenStax Publisher:OpenStax College Financial And Managerial Accounting ISBN:9781337902663 Author:WARREN, Carl S. Publisher:Cengage Learning, What are the statements about users of accounting information?Users of Accounting Information and their Needs:
The public, the government and its agencies, management, employees, lenders, suppliers, and other creditors in the business world are among the users of accounting information.
Which of the following statements about the external users of accounting information is correct?All the following statements about users of accounting information are correct EXCEPT Present creditors are considered as external users Taxing authorities are considered as external users Regulatory authorities are considered as internal users.
Which of the following is a user of accounting information of a business?Users of accounting information are internal and external. External users are creditors, investors, government, trading partners, regulatory agencies, international standardization agencies, journalists and internal users are owners, directors, managers, employees of the company.
Which of the following statements about an account is true?Answer: The statement which is true about an account is : (b) An account is an individual accounting record of increases and decreases in specific asset.
|
Which of the following statements about users of accounting information is correct
zusammenhängende Posts
Urheberrechte © © 2024 IlerngutCOM Inc.
