Examlex
Which of the following are considered "external" users of financial statements?
Personal Liability
The legal responsibility of an individual to settle debts or damages out of their own assets.
Gross Revenues
The total amount of money earned by a business before any deductions or expenses are subtracted.
Indirectly Own Stock
Holding shares in a company through indirect means, such as owning a mutual fund or an exchange-traded fund that in turn owns the stock.
Ultra Vires Doctrine
A legal principle that acts of a corporation must fall within the limits of the powers granted by law and the corporation's own constitution.
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