External Users of Accounting Information, Like the Internal Revenue Service

question 149

Multiple Choice

External users of accounting information, like the Internal Revenue Service, are most commonly known as

• A)taxing authorities.
• B)labor unions.
• C)customers.
• D)regulatory agencies.

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Definitions:

Management-Labor Union Disputes

Conflicts that arise between company management and labor unions regarding worker rights, wages, and working conditions.

Mediation

A form of alternative dispute resolution where a neutral third party helps disputants find a mutually acceptable solution.

Compulsory Arbitration

A mandatory process where a neutral third party makes a binding decision to resolve a dispute.

Voluntary Arbitration

A method of conflict resolution in which the conflicting parties choose to abide by the decision of an independent third party.