FABM PAIR QUIZ 1

Financial claims that owners have in the business.

• Assets

• Liabilities

• Equity

• Profit

The resources owned by the business.

• Assets

• Liabilities

• Equity

• Profit

Utilize the accounting information to come up with useful decisions for the company.

• Accountant

• Bookkeeper

• Internal Users

• External Users

Indirectly access accounting information from the organizations of their interest.

• Accountant

• Bookkeeper

• Internal Users

• External Users

Assessing business performance and financial position.

• Decisions by Management

• Decisions by Owners

• Decisions by Employees

• Decisions by Investors

Whether to continue the contract for employment, or collectively bargain.

• Decisions by Management

• Decisions by Owners

• Decisions by Employees

• Decisions by Lenders

Interested in putting capital to earn profit.

• Decisions by Employees

• Decisions by Investors

• Decisions by Lenders

• Decisions by Regulatory and Tax Authorities

Whether to confirm compliance or impose penalties.

• Decisions by Investors

• Decisions by Lenders

• Decisions by Regulatory and Tax Authorities

• Decisions by Customers

Savings Account

• ASSETS

• LIABILITIES

• EQUITY

Allowance for Bad Debts

• ASSETS

• LIABILITIES

• EQUITY