The Conceptual Framework is concerned with the provision of financial information to both external users and internal users.Group of answer choicesTrueFalse

To which one of the following external users does financial accounting NOT provide financial information?Group of answer choicesA. Government agenciesB. InvestorsC. CreditorsD. Managers

Since there are so many different types of external users, an entity has to produce many, many different types of financial statements suited specifically to each of their information needs. Question 4 Answer True False

The users of financial statements who are interest in information that enables them to determine whether the amounts owing to them will be paid when dueGroup of answer choicesLendersCustomersInvestorsSuppliers and other trade creditors

General purpose financial statements are designed toGroup of answer choicesmeet all of the common needs of all primary usersmeet none of the needs of users of financial informationmeet most of the common needs of most primary usersmeet all the information needs of the primary users

Who are NOT generally considered as external users of accounting information supplied by a business?Group of answer choicesLocal governmentsLabour unionsInvestment analystsSales managers