WorksheetsFUND OF ACCTING 1
Total questions: 12
Worksheet time: 21mins
Investors
Ability of business to pay dividends
To buy, hold or sell shares
Risk associated with the capital invested
external users
accounting is
is a service activity. Its function is to provide quantitative information primarily financial in nature, about economic entities that is intended to be useful in making economic decisions (SFAS 1)
the process of identifying, measuring, and communicating economic information to permit informed judgements and decisions by users of the information (AAA)
the art of recording, classifying, and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least, of a financial character, and interpreting the results thereof. (AICPA)
none of the above
External users
Make decisions concerning their relationship to the business.
Make decisions directly affecting the internal operations of the business
Internal Users
Make decisions directly affecting the internal operations of the business
Make decisions concerning their relationship to the business.
Employees
Ability of the business to pay remuneration, retirement, employment opportunities
Ability of business to pay dividends
Ability of business to pay dividends
Risk associated with the capital invested
Lenders
Ability of the business to pay for loans as well as interest
Ability of the business to pay remuneration, retirement, employment opportunities
Ability of business to pay dividends
Risk associated with the capital invested
Suppliers & Other Trade Creditors
Ability of the business to pay for the items purchased
Pay taxes
Regulate the activities of the business
Ability of the business to maintain the products and services required
Governments & their Agencies
Pay taxes
Regulate the activities of the business
Ability of the business to pay for the items purchased
Ability of the business to pay for loans as well as interest
Customers
Ability of the business to maintain the products and services required
Contribution to local economy
Corporate social responsibility
Pay taxes
Public
Contribution to local economy
Corporate social responsibility
Pay taxes
Regulate the activities of the business
Managers
Measurement of the achievement of planned goals
Efficiency and effectivity of persons with authority and responsibility in terms of the implementation of action plans
Direction of the company towards its profitability and sustainability
internal users
Board of Directors
Direction of the company towards its profitability and sustainability
Efficiency and effectivity of persons with authority and responsibility in terms of the implementation of action plans
Measurement of the achievement of planned goals
internal users
