Identify the following questions as most likely to be asked by an internal (I) or an external (E) userof accounting information. What are the costs of our service to customers?

Q: hat are the accounting information needed by: a. Internal users b. External users

A: Accounting Information:- This is that information that is required by both external and internal…

Q: Explain what is meant by: The benefits of accounting information must exceed the costs.

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Q: Describe the various types of individuals who use accounting information and how they use that…

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Q: What is concern of external users of accounting information in GAAP?

A: Accounting information includes all financial statements like Balance Sheet, Income statements and…

Q: For each of the following users of financial ače accounting information, specify whether the user…

A: Important thing to Note the parties which are outside to the organization will not have access to…

Q: What are some of the accounting information costs? What are some advantages of accounting data?…

A: The answer:

Q: how managers (internal user) and customers (external user) use accounting information?  Give one…

A: Introduction:- Users of accounting information are classified into two types as follows under:-…

Q: financial accounting focuses on providing information to internal users , is it true or false ?

A: Financial accounting is referred to a branch of accounting which keeps a complete record of all the…

Q: Why is accounting information so valuable to prospective users both inside and outside the company?

A: When discussing accounting information, we're referring to data that is often included in financial…

Q: Explain the costbenefits principles and how this affects the reliability and relevance of the…

A: Relevance refers to the concept or an idea that whatever information that is provided by the…

Q: Which of the following users is not considered an internal user of accounting O a. An employee O b.…

A: Internal user of accounting means the stakeholder within the organization who uses the accounting…

Q: What type of internal and external accounting reports will you use in the process of making…

A: Internal accounting reports are managerial reports which are generated for use by managers at…

Q: Which of the accounting controls ensure that a company's resources are used efficiently and…

A: Controls are the procedures which are designed and monitored by the management to ensure that the…

Q: What is the relevance of the Accounting Information System in the present practice of accounting?

A: Accounting Information System: An accounting information system (AIS) is a framework that a company…

Q: differentiate internal user from external user of accounting information

A: Accounting is the detailed process of recording, classifying, summarising and reporting accounting…

Q: which internal users need the accounting information

A: Accounting information data is the data that emerges from business exchanges. When distinguished,…

Q: What are the possible careers for someone skilled enough in accounting information system

A: The accounting profession has evolved from simple tax preparation and bookkeeping to the advanced…

Q: how you will use accounting information both as an internal and an external user?

A: The accounting is a process to classify and record the business transactions and prepare the…

Q: Identify the following users of accounting information as either an (a) external or (b) internal…

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Q: Identify the following users of accounting information as either an (a) external or (b) internal…

A: External users of accounting information are those persons which are external to the organisation…

Q: Who are the èxternal user's of accounting information

A: The accounting information is used by the external user and internal user. The External users are…

Q: Why is accounting referred to be an information system? Explain with an example from your own point…

A: Information system is a system which is designed to collect, store and process information for the…

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: Identify TWO external consumers of accounting information and explain how that accounting…

A: Introduction: The term "financial statement" refers to any statement, such as an income statement, a…

Q: What does an effective accounting information system provide?

A: Accounting Information Systems:

Q: When it comes to the contemporary practice of accounting, what is the significance of the Accounting…

A: Here is the Answer

Q: Identify the following users of accounting information as either an (a) external or (b) internal…

A: External users of accounting information are those persons which are external to the organisation…

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

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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: How do you maintain accounting accuracy?

A: Maintaining accuracy in the accounting records is an essential requirement for every entity involved…

Q: Who are the focused users/stakeholders of financial accounting and cost accounting?

A: Financial and Cost accounting are the major accounting area in an organization. It will helpful to…

Q: Explain what the accrual foundation of accounting is and who is required to use it in your…

A: This question explains about the accrual foundation of accounting .

Q: Why is accounting described as a service activity?

A: The activities that are carried out with a view to assist the organisation in the delivery and…

Q: You are approached to comment on a company’s accounting disclosure quality. As an accounting…

A: Accounting disclosures are the information that the company discloses with the financial information…

Q: When do accountants consider revenue to be realized?What basic question about recording revenue in…

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Q: What are some of the costs of providing accounting information? What are some of the benefits of…

A: Accounting information: A procedure or system that collects information related to money related…