Which of the Following Would Not Be Considered an External

question 187

Multiple Choice

Which of the following would not be considered an external user of accounting data for the GHI Company?

• A) Taxing authority representative.
• B) Management.
• C) Creditors.
• D) Customers.

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Definitions:

Taxable Income

The amount of an individual's or corporation's income used to determine how much tax is owed to the government in a given tax year.

Schedule L

Schedule L is a tax form used by certain businesses to report their balance sheet details to the IRS, including assets, liabilities, and equity.

Schedule M-1

A form used by corporations filing U.S. federal corporate income taxes to reconcile financial statement income with tax return income.

Total Receipts

The total amount of money received by a business during a specific period, including sales, income, donations, and other forms of revenue.