EXERCISES-Chapter 1-2-3-4

Accounting information provides data t o b sale of

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Unformatted text preview: agencies. Accounting information provides data t o B, Sale of manufactured goods, help the decision- making process of persons: C, Treatment of a hospital patient D, Purchase of a large piece of machinery FILL IN THE MISSING WORDS, CIRCLE THE CORRECT RESPONSES Types of decision-makers 7, Accounting is often divided into two categories: managerial accounting (for internal decision- makers) and financial accounting (for--------------decision-makers) 8,Creditors and lenders. Should a loan be granted to the business entitiy? Will the business entity be able to pay its……………………..as they become due? 9, Financial statements are formal R……………. Providing information on a business entity's financial position (solvency), cash inflows and outflows, and the results of operations 10, Financial a ccounting information is historical in nature, reporting on what has happened in the ……………….Thus, external parties use relevant and reliable financial statements to make present decisions about future events 11, Financial statements are practical means of demo...
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This document was uploaded on 03/26/2014.

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