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Which statements is true concerning external users

Assignment Help Financial Accounting
Reference no: EM132777093

Problem 1: Which one of the following is a financing activity of a business?

a. Issuing stock for cash

b. Paying for purchases of inventory

c. Purchasing a manufacturing plant

d. Paying salaries

Problem 2: Which of the following statements is true concerning external users of financial information?

a. External users need detailed records of the business to make informed decisions.

b. External users are primarily responsible for the preparation of financial statements.

c. External users rely on the financial statements to help make informed decisions.

d. External users rely on management to tell them whether the company is a good investment.

Reference no: EM132777093

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