Introduction to Accounting
• provide factual and interpretative information by disclosis
assumptions on matters subject to interpretation, evaluatio
or estimation; and
provide information on activities affecting the society.
Test Your Understanding - I
Complete the following sentences with appropriate words:
(a) Information in financial reports is based on
t
(b) Internal users are the
of the business entity.
would most likely use an entities financial re
winancial
..
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Explanation:
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