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knchwyattroquiza knchwyattroquiza THIS ARE THE ANSWERS FOR YOUR QUESTION 6 B 7 D Explanation: I HOPE IT HELPS Advertisement Advertisement
MarilynARamos33 MarilynARamos33 Answer: 6.C 7.A Explanation: Hope it help po #Carryonlearning Advertisement Advertisement New questions in Economicsare you happy on your filterd photo? pls po need na salamat agad sa sasagot how do the contemporary research helps the country Is down economic problem and passible solution The owner of a small chain of gasoline stations in a large Midwestern town read an arti- cle in a trade publication stating that the own price elastic … ity of demand for gasoline in the United States is -0.2. Because of this highly inelastic demand in the United States, he is thinking about raising prices to increase revenues and profits. Do you recommend this strategy based on the information he has obtained? Explain. (LO1, LO3, LO4)
Previous Next Advertisement Accounting is an information management process that systematically accumulates, records and reports information about an organization’s financial performance (i.e. profit or loss), its financial position (i.e. assets, liabilities and shareholder’s equity) and changes in financial position (i.e. cash flows and working capital). Every organization, whether business or not-for-profit, aims to create maximum value addition for its owners and other stakeholders. This goal cannot be achieved without a mechanism to monitor the performance of the organization. Performance measurement may be carried out along both financial (i.e. earnings, wealth etc.) and non-financial (e.g. customer satisfaction, market share etc.) dimensions and accounting is concerned with performance measurement in financial terms. Inputs to an accounting system include business transactions which are usually supported by source documents, such as invoices, board resolutions, management memos, etc. but transactions may also take place without formal documentation. Accounting records and processes all quantifiable transactions using well established procedures and techniques. The methods of accounting are affected by whether the reports to be produced will be presented to wider stakeholders rather than just for internal use. This is discussed below. TypesBased on its purpose and potential users, accounting practice and profession is often classified as:
Users of the Financial StatementsThe most basic objective of financial accounting is preparation of general-purpose financial statements, which are financial statements meant for use by stakeholders external to the entity, who do not have any other means of getting such information, i.e. people other than the management. These stakeholders include:
by Obaidullah Jan, ACA, CFA and last modified on Sep 28, 2020 Who are the interested users of financial information?Read this article to learn about the following thirteen users of financial statements, i.e., (1) Shareholders, (2) Debenture Holders, (3) Creditors, (4) Financial Institutions and Commercial Banks, (5) Prospective Investors, (6) Employees and Trade Unions, (7) Important Customers, (8) Tax Authorities, (9) Government ...
Which users need financial information to enable them to evaluate the ability of the business to pay dividends *?Owners – Owners use the accounting information for analyzing the viability and profitability of their investments. Accounting information enables the owners to assess the ability of the business organization to pay dividends. It also leads them to determine any future course of action.
Which users need financial information to enable them to determine?Owners and investors
Stockholders of corporations need financial information to help them make decisions on what to do with their investments (shares of stock), i.e. hold, sell, or buy more. Prospective investors need information to assess the company's potential for success and profitability.
Which users need financial information of an entity to determine whether their loans and the related interest will be paid when due?Lenders. An entity loaning money to an organization will require financial statements in order to estimate the ability of the borrower to pay back all loaned funds and related interest charges.
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