Which One of the Following Groups Is Not Generally Regarded

question 4

Multiple Choice

Which one of the following groups is not generally regarded as an external user of the accounting information of an entity?

• A) Employees
• B) Customers
• C) Management
• D) Lenders

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Definitions:

Salaries

Regular payments made to employees for performing their jobs, typically expressed as an annual amount but paid in smaller increments such as monthly or bi-weekly.

Expense Incurred

A cost that has been realized during the performance of business activities, pending payment or already paid.

Revenue Earned

Income received by a company from its business activities, such as sales of products or services.

Mortgage Payable

A liability account on the balance sheet representing the amount owed by a company or individual for the property's mortgage.