Question

describe the informational needs ​

Answer 1

There are various external users of accounting who need accounting information for decision making, investment planning and to assess the financial position of the business. Investors and potential investors− They invest or plan to invest in the business.

Answer 2

Answer:

Thus, they need information regarding liquidity, creditworthiness, solvency and profitability to advance loans. ... Hence, in order to assess the viability and prospectes of their investment, creditors need information about profitability and solvency of the business.

Explanation:

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