Question

Please answer question number
2,5,7,11,12,13

Answer 1

Answer:

Q7)The informational needs of management are:

1. They require data for decision making and business planning

2. To prepare reports related to funds, costs and profits to ascertain the soundness of the business

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Q2) Balance Sheet−

It depicts the true financial positions of a business that provides required information like assets and liabilities of a business firm, to the users ofaccounting information like owners, creditors, investors, government, customers, shareholders etc.

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Q5)  : Accounting information required by the long term lenders are repaying capacity of the business, profitability, liquidity, operational efficiency, potential growth of business, etc.

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