Question

6. Gently couple ale po ial accounting manuale choch ia and managerial accounting financial norm a l accounting 2. Which of the following is not a user or financial reports Chador Covernment ancies Employees 3. The financial statements most frequently provided include all of the following except the balance sheet income statement statement of cash flows. d. statement of retained earnings 4 The information provided by financial reporting pertains to a individual business enterprises, rather than to industries or an economy as a whole or to members of society as consumers business industries, rather than to individual enterprises or an economy as a whole or to members of society as consumers. c individual business enterprises, industries, and an economy as a whole, rather than to members of society as consumers. dan economy as a whole and to members of society as consumers, rather than to individual enterprises or industries. All the following are ways in which accounting information is used by financial accounting! except to

Answer 1

1.-(a)Reason-General purpose financial statement is product of financial management.

2.-(c)Reason-Unions are not users of financial reports.

3.-(d)Reason-Financial statement doesn't include statement of retained earnings.

4.-(a)Reason-Financial reporting pertains to individual business enterprise rather than to industries or economy as a whole.