External Users of Financial Information

question 232

Multiple Choice

External users of financial information:

• A) Make operating decisions for a company.
• B) Are not directly involved in operating the company.
• C) Make strategic decisions for a company.
• D) Include internal auditors and consultants.
• E) Are those individuals involved in managing and operating the company.

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Definitions:

Patent

A patent is a legal right granted to an inventor, giving them exclusive rights to produce, use, and sell their invention for a certain period.

Contract Law

The body of law that governs the creation, enforcement, and termination of contracts between parties.

Copyright

A legal right granted by the government to creators of original works, giving them exclusive rights to use and distribute their creations for a certain period of time.

Patent

A legal right granted to an inventor, providing exclusive commercial rights to an invention for a certain period.