Identify each of the following as either internal or external users of accounting information.
Definitions:
Merchandising Business
A commercial enterprise that purchases goods in a finished condition for the purpose of resale without further manufacturing.
Contra Accounts
Accounts used in the accounting ledger to reduce the value of a related account when the two are netted together.
Perpetual Inventory
An inventory management system where updates are made continuously as inventory items are bought and sold.
Cash Sales
Transactions in which the buyer pays for a good or service at the time of the sale with cash or its equivalent.
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