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(a) The following are users of financial statements.

______Customers ______Securities and Exchange Commission

______Internal Revenue Service ______Store manager

______Labor unions ______Suppliers

______Marketing manager ______Vice-president of finance

______Production supervisor

Instructions

Identify the users as being either external users or internal users.

(b) The following questions could be asked by an internal user or an external user.

______Can we afford to give our employees a pay raise?

______Did the company earn a satisfactory income?

______Do we need to borrow in the near future?

______How does the company's profitability compare to other companies?

______What does it cost us to manufacture each unit produced?

______Which product should we emphasize?

______Will the company be able to pay its short-term debts?

Instructions

Identify each of the questions as being more likely asked by an internal user or an external user. 

Accounting Basics, Accounting

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