Complete the following sentences with
appropriate words:
19. Information in financial reports is based on
...
20. Internal users are the .........
...... of the
business entity.
21. A.............. would most likely use an
entities financial report to determine
whether or not the business entity is eligible for
a loan.
22. The Internet has assisted in decreasing the
in issuing financial
reports to users.
23.
users are groups outside the
business entity, who uses the
information to make decisions about the
business entity
24. Information is said to be relevent if it is
....
25. The process of accounting starts with
........... and ends with ............
26. Accounting measures the business
transactions in terms of ............ units.
27. Identified and measured economic events
should be recording in ............ order.
Choose the given answer from below
(1. Economic Transactions,2. Creditor, ,3.
Management/Employees
4.Free from bias, , 5. Monetary,
6.Chronological,7. External, 8.Time-gap, 19.
Identifying the transactions and communicating
information)
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