The Following Users of Accounting Information Have a Direct Financial

question 130

Multiple Choice

The following users of accounting information have a direct financial interest in a business except

• A)a creditor.
• B)a financial adviser.
• C)management.
• D)an investor.

---

Definitions:

Journal Entries

The method by which financial transactions are recorded in a company's accounting records, detailing debits and credits to specific accounts.

Voucher

A record that acts as proof of a transaction and permits a payment to be made.

Gross Method

An accounting method for recording purchases at the full invoice price without deducting any cash discounts offered.

Net Method

An accounting technique that records purchases after discounts, where the purchase price is reduced by the expected discount amount.