Answered: Which of the following is not…

Which of the following is not considered a stakeholder of an organization?A. creditorsB. lendersC. employeesD. community residentsE. a business in another industry

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter1: Role Of Accounting In Society

Section: Chapter Questions

Problem 11MC: Which of the following is not considered a stakeholder of an organization? A. creditors B. lenders...

See similar textbooks

Related questions

Q: Explain a) Business Entity Principle b) Going Concern Principle c) Historical Cost Principle

A: Business entity principle is an accounting principle that signifies the person who owns the…

Q: . is modifying the firm's credit collection policy with its customers Select one: a.Financial…

A: Credit Collection Period represents the average time taken to collect trade debts by the firm from…

Q: Identify the following users as either External users or Internal users. a. Chief Executive Officer…

A: Accounting users are: Internal users External users

Q: Which resource providers lend financial resources to a business with the expectation of repayment…

A: SOLUTION- BUSINESS BORROW MONEY FROM CREDITORS , AND REPAY THE AMOUNT BORROW , PLUS AN ADDITIONAL…

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: “Income and Expenditure Account of a Not-for-Profit Organisation is akinto Profit and Loss Account…

A: A profit & loss statement shows the organization's revenue, expenses, and its profit for a…

Q: a) Define a business holding an investment. b) State and explain the 2 criteria to determine whether…

A: Investment: Investment is an item that is purchased or invested in order to accumulate wealth and…

Q: Which of the following statements is true regarding business plans: A. A corporation is the…

A: Business plan is a documented strategy that sets out the basic idea underlying a business and its…

Q: Who among the following is a direct user of accounting information? Labor association Financial…

A: Users of accounting information is classified into 2 categories: a. Direct users b. Indirect users…

Q: What are financial statements and explain different types of users of finanacial statement including…

A: Financial statements are statements that are prepared at the end of the period in order to analyse…

Q: In accounting, an economic entity may be defined as- a. a business enterprise…

A: The accounting is based on various principles and standards.

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 of the following is one of the four major categories that define the business market? O a.…

A: A business market is such where people are allowed to do business by performing economic activities…

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: External users of fi nancial accounting information includeall of the following except:a. Investors.…

A: External Users: The external users are the users of the information who are outside the…

Q: Which of the following statements best describes controlled business? Insurance agencies that are…

A: The correct answer for the above mtnioned question is given in the following steps for you…

Q: Stakeholders include any one who has financial interest stake or claim in an organization and or…

A: The Stakeholders include any person or entity which is affected by the decision of the entity and…

Q: Accounting purpose of Governmental and not-for-profit organizations are different from business…

A: The main motive of business organizations is to earn maximum profit by selling the goods &…

Q: not considered a stakeholder of an organization?

A: To answer this question, it is very important to understand what do we mean by stakeholders.…

Q: "Distinction should be made between the personal transactions of owner and those of entity." Which…

A: Option c is correct. Business entity concept says that the business and the owner are two different…

Q: Which of the following is an internal user of a company's financial information? A shareholder in…

Q: In community what are the examples of decisions or questions that can be supported by accounting…

A: Ans. Accounting information helps in decision making in many ways. Some of them are discussed as…

Q: d ho

A: Agency relationship : An agency connection can be understood as the fiduciary relationship in which…

Q: insurance that protects the directors and officers of a company a. director and office policy b.…

A: The term “insurance” can be defined as the financial security provided by the insurer to the insured…

Q: Classify the following users of information as either: I—internal user T—external user: trading…

A: Workings: Given values: Internal user- ( I ) External user Trading partner - ( T ) External user…

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: 1. Which of the following are not considered "external" users of financial statements? A. Owners. B.…

A: Financial Statements-:Financial Statements are the financial summaries that furnish the item of the…

Q: As used in the definition of accounting, an economic entity may be a. a business enterprise b. an…

A: Answer is 'D'. All of the above An economic entity may be a business enterprise or an individual…

Q: Setting accounting standards by the private sector is Select one: a. Independent discipline approach…

A: Accounting standards refer to the rules, policies, and practices used or followed to record…

Q: Which of the following is an internal user of a company's financial information? a. company…

A: "Since you have asked multiple questions, we will solve first question for you. If you want any…

Q: "Distinction should be made between the personal transactions of owner and those of entity." Which…

A: Firstly we will understand the meaning of above 3 accounting concepts that are going concern,dual…

Q: The main user group of management accounting is the O A. managers B. investors O C creditors O D.…

A: Management accounting includes ascertainment and allocation of cost incurred during the period. This…

Q: What significant information should each of the following be aware of in the financial statements…

A: Financial statements are the key documents of the organization which state the financial position of…

Q: Which of the following is not considered a stakeholder of an organization? A. creditors B. lenders…

A: Stakeholder: Stakeholder refers to a person or group who relies on financial information to make…

Q: Which of the below are users of financial statement of a company? i) Stockholders , bondholders,…

A: Financial statement means the statement including income statement , balance sheet , cash flow…

Q: Which of the following is an internal user of company's financial information? a. company treasurer…

A: Internal users of the financial information are the person whose interest is directly involved in…

Q: The following are examples of related party transactions except * a. Extending credit to officers…

A: Related party transaction (RPT): It implies to the transactions or events that takes place between…

Q: Determine how your business can apply the Responsibility to Stakeholder!

A: Stakeholder: Stake holder is a person or group of people who own a share in a business and is…

Q: what are the reasons why an individual venture into a business?

A: When an individual starts his own business that is known as sole-proprietorship.

Q: Financial accounting shows the result of the collective activities of the business. Select one: O…

A: Financial accounting is accounting for the financial data and preparation and presentation of…

Question

Which of the following is not considered a stakeholder of an organization?
A. creditors
B. lenders
C. employees
D. community residents
E. a business in another industry

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

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.

Similar questions

Which of the following best defines stakeholders? A. investors and lenders B. environmental groups C. anyone directly or indirectly affected by the organization D. groups or individuals financially impacted by the organization
Which of the following is not considered a stakeholder of an organization? creditors lenders employees community residents a business in another industry
External users of fi nancial accounting information includeall of the following except:a. Investors. c. Line managers.b. Labor unions. d. General public.
Which of the following is not an external user of a business’s financial information? a. Taxing authorities b. Customers c. Employees d. Investors
MCQS: External reporting is the result of? (a) Financial accounting (b) Management accounting (c) Cost accounting (d) Social accounting Which of the following business entity is collectively known as firm? (a) Sole trader-ship (b) Partnership (c) Co-operative society (d) Company
Which of the following statements is true regarding business plans: A. A corporation is the only legal form of business ownership that should develop a business plan. B. The operating plan details information regarding the business's services. C. Owners often use business plans as a tool to help them achieve their objectives. D. Lending institutions do not usually require loan applicants to submit a business plan.
What financial statements are not for profit organizations required to issue? Compare them to what a typical business' enterprise would issue.
Which of the following is an internal user of a company’s financial information?a. board of directors c. stockholders of the companyb. regulatory agencies d. long-term creditors of an enterprises
According to which concept the owners are considered to be different from the business[A] Business entity concept[B] Going concern concept[C] Money measurement concept[D] Accounting period concept
"Distinction should be made between the personal transactions of owner and those of entity." Which of the following is the accounting concept defined in the paragraph? Select one: a. Dual Aspect b. Going Concern c. Business Entity d. none of the option
Which of the following accounting concepts considers the investment made by the owner in the business as the liability of the business? a.Dual aspect concept , b.Money measurement concept , c.Business entity concept , d.Going concern concept
What are business transactions called that increase owner’s equity as a result of providing a services or selling products to customers? Group of answer choices revenue expense liability asset