Provided Is a List of Important Users of Accounting Information

question 150

Multiple Choice

Provided is a list of important users of accounting information. Also provided are descriptions of a major need for accounting information that may be experienced by the various users. Identify the one user group that is most likely to have the need described. (Choices may be used more than once.)
-Will I get a raise this year?

• A)Investors
• B)Management
• C)Supplier
• D)Banker
• E)Government
• F)Employees
• G)Labor Union
• H)Investors and Banker
• I)Supplier and Banker

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Definitions:

Security Agreement

A legal document that provides a lender a security interest in a specified asset or property that is pledged as collateral.

Collateral

Collateral refers to assets that a borrower offers to a lender to secure a loan, which can be seized if the loan is not repaid.

Perfection by Possession

A method of securing interests in personal property by physical possession, thereby prioritizing claims against the property.

Perfection by Filing

A legal process to protect a secured interest in a debtor's property by filing appropriate documents with a governmental office or registry.