ACC 280 / XACC 280 : E1-2 (a) The following are users of financial statements

Help in ACC 280Help in XACC 280Exercise 1-2 (E1-2) (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 supervisorInstructionsIdentify 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?InstructionsIdentify each of the questions as being more likely asked by an internal user or an external user.