Activity 1 in FABM

The external users inside the company are those who plan, organize and operate the business.

• TRUE

• FALSE

The external users are those individuals and organizations outside a company who want financial information outside the company.

• FALSE

• TRUE

There are four primary internal users of accounts.

• TRUE

• FALSE

Management is a primary internal user of accounting information.

• TRUE

• FALSE

Owners are internal users of financial information.

• TRUE

• FALSE

Customers are not external users of accounts.

• TRUE

• FALSE

. In Mesopotamia, record-keeping was done through “Clay Triangle Drawing” as evidence of recording transactions.

• TRUE

• FALSE

Luca Pacioli is the Father of Accounting.

• TRUE

• FALSE

The British Association of Public Accountants was the initiator to the current American Institute of Certified Public Accountants (AICPA).

• TRUE

• FALSE

Accounting is a process.

• TRUE

• FALSE