Required informationAccounting is an information and measurement system thataims to identify, record, and communicate information aboutbusiness activities. It helps assess opportunities, products,investments, and social and community responsibilities.Users of accounting are both internal and external. Someusers and uses of accounting include (a) managers incontrolling, monitoring, and planning; (b) lenders formeasuring the risk and return of loans; (c) shareholders forassessing the return and risk of stock; and (d) employees forjudging employment opportunities. Opportunities inaccounting include financial, managerial, and tax accounting.430s:00 / 1:271xKnowledge Check 01Select the correct term for the following types of users:UsersTermsCustomersPurchasing managerMarketing ManagerSuppliersLabor Union

People who are outside the business entity and uses the business information to evaluate the…

Answered: Knowledge Check 01 Select the correct…

Knowledge Check 01 Select the correct term for the following types of users: Users Terms Customers Purchasing manager Marketing Manager Suppliers Labor Union

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 1EB: Match the correct term with its definition. A. Financial Accounting Standards Board FASB) i. used by...

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Question

Required information
Accounting is an information and measurement system that
aims to identify, record, and communicate information about
business activities. It helps assess opportunities, products,
investments, and social and community responsibilities.
Users of accounting are both internal and external. Some
users and uses of accounting include (a) managers in
controlling, monitoring, and planning; (b) lenders for
measuring the risk and return of loans; (c) shareholders for
assessing the return and risk of stock; and (d) employees for
judging employment opportunities. Opportunities in
accounting include financial, managerial, and tax accounting.
430s
:00 / 1:27
1x
Knowledge Check 01
Select the correct term for the following types of users:
Users
Terms
Customers
Purchasing manager
Marketing Manager
Suppliers
Labor Union

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