Examlex
Jamenac Company recently released its first set of financial statements. Below is a list of potential users of the financial statements.
1. Labour Union
2. Employees
3. Canadian Imperial Bank of Commerce
4. CRA
5. Potential shareholders/ investors
6. Sales Manager
7. Marketing Manager
8. Economic planners
9. Provincial Securities Commission
10. Human Resource Director
11. Customers
Instructions
a. For each user identify whether the user is an external or internal user.
b. Provide a brief explanation as to the difference between external and internal users.
Fair Value
The estimated market value of an asset or liability based on current market conditions.
Partner's Investment
The total capital contributed to a partnership by its members, either in cash, property, or services.
Income Ratio
A financial metric that compares different streams of income to one another or to total income, often used in profitability analysis.
Liquidation
The process of closing a business, selling its assets to pay creditors, and distributing any remaining assets to the owners or shareholders.
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