Accounting reports are termed users-accounting information

Reference no: EM13327572

The persons receiving accounting reports are termed the users of accounting information. The type of information that a specific user will require depends on the kinds of decisions that person must make. For example, managers need detailed information about daily operating costs for the purpose of controlling the operation of the business and setting reasonable selling prices. Outsiders, on the other hand, usually need summarized information to use in making investment decisions, levying income taxes, or making regulatory decisions. (Walter B. Meigs and Robert F. Meigs, Accounting, 6th ed.)

a Argument; conclusion: Outsiders . . . making regulatory decisions.

b Nonargument.

c Argument; conclusion: The persons receiving . . . users of accounting information.

d Argument; conclusion: Managers need detailed information . . . selling prices.

e Argument; conclusion: The type of information . . . person must make.

Reference no: EM13327572

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