381. To understand and use accounting information in making economic decisions, you must understand?
A. The nature of economic activities that accounting information describes
B. The assumptions and measurement techniques involved in developing accounting information
C. Which information is relevant for a particular type of decision that is being made?
D. All of Above

382. The controller’s responsibilities are primarily in nature, while the treasurer’s responsibilities are primarily related to?
A. Operational; Financial accounting
B. Accounting; Financial management
C. Financial management; Operations
D. Financial management; Accounting

383. The outcome of financial accounting is to?
A. Record all transactions in the books of accounts
B. Provide management with detailed analyses of costs
C. Present the financial results to the organization by means of recognized financial statements
D. Calculate profit

384. Internal users of accounting information include all of the following except?
A. Store manager
B. Creditor
C. Chief executive officer
D. Chief financial officer

385. Accounting is an information and measurement system that does all of the following except?
A. Analyze transactions
B. Handle routine book-keeping tasks
C. Structure information
D. Recording social activities

386. External users of accounting information include all of the following except?
A. Investors
B. Labor Union
C. Line Manager
D. General Public

387. Which of the following groups use financial accounting information?
A. Management, employees, shareholders and lenders
B. Suppliers, customers and competitors
C. Tax authorities, government and general public
D. All of the above

388. Which of the following persons are most likely to use accounting information?
A. Business owners
B. Lending institutions
C. All of the above
D. None of the above

389. Someone who uses accounting information is?
A. A user
B. An external user
C. An internal user
D. A manager

390. External users include all of the following except?
A. Lenders
B. Customers
C. Officers
D. Employees

NOTE
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