Reference no: EM132946390
Problem 1. Which of the followings are not the external users of financial information?
A. Managers of a business.
B. Creditors of a business.
C. Potential investors.
D. Government agencies such as Inland revenue board.
Problem 2. The accounting process includes all of the following except __________.
A. identification of business transactions.
B. preparation of trial balance.
C. preparation of financial statements.
D. observation of business transactions.
Problem 3. Which of the following types of business organisations have unlimited liability?
A. Private limited company and sole proprietorship.
B. Partnership and sole proprietorship.
C. Private limited company and partnership.
D. Private and public limited company.
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