A creditor is a person who owes money to the business. Indicate whether the statement is true or false ANSWER FALSE
Date: September 2nd, 2020
Stockholders primarily use managerial accounting information for decision-making purposes. Indicate whether the statement is true or false ANSWER FALSE
Date: September 2nd, 2020
Financial accounting focuses on information for decision makers outside of the business, such as creditors and taxing authorities. Indicate whether the statement is true or false ANSWER TRUE
Date: September 2nd, 2020
Local, state, and federal governments use accounting information to calculate income taxes. Indicate whether the statement is true or false ANSWER TRUE
Date: September 2nd, 2020
Business owners use accounting information to set goals, evaluate progress toward those goals, and make adjustments when needed. Indicate whether the statement is true or false ANSWER TRUE
Date: September 2nd, 2020
Outside investors would ordinarily use managerial accounting information to decide whether or not to invest in a business. Indicate whether the statement is true or false ANSWER FALSE
Date: September 2nd, 2020
