The Managers of a Business Prepare Financial Statements to Present

question 22

Multiple Choice

The managers of a business prepare financial statements to present meaningful information about that business's activities to external users. Who are the external users?

• A)owners
• B)lenders
• C)regulators
• D)tax authorities
• E)all of the above

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Definitions:

Goal-setting

The process of identifying specific, measurable, achievable, relevant, and time-bound objectives.

Targets

Specific goals or objectives that an individual or organization aims to achieve within a defined time frame.

Objectives

Specific, measurable goals set by a business or individual aimed at achieving a particular outcome.

Instrumentalities

The perceived relationship between performing a specific behavior and achieving a certain outcome, key in understanding motivation.