Question

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Directions: Write TRUE if the statement is correct and FALSE if it is not.
Write your answers on a separate sheet of paper.
1. The external users inside the company are those who plan,
organize and operate the business.
2. The external users are those individuals and organizations
outside a company who want financial information outside the
company.
3. There are four primary internal users of accounts.
4. Management is a primary internal user of accounting
information
5. Owners are internal users of financial information.
6. Customers are not external users of accounts.
7. In Mesopotamia, record-keeping was done through "Clay
Triangle Drawing as evidence of recording transactions.
8. Luca Pacioli is the Father of Accounting.
9. The British Association of Public Accountants was the initiator
to the current American Institute of Certified Public
Accountants (AICPA).
10. Accounting is a process.
11. Accounting is both an art and discipline.
12. Accounting is NOT an information system.
13. Accounting is NOT the language of business.
14. Accounting is the process of informing, repeating, and
destructing economic events.
15. Recording is a part of accounting process.​

Answer 1

Answer:

1. False

2. False

3. False

4. True

5. True

6. False

7. True

8. True

9. True

10. True

11. True

12. False

13. False

14. False

15. True

Answer 2

We are given a set of statements and we are asked the question of whether the statements are true or false

• The first statement is whether the external users inside the company are those who plan, organize and operate the business and the correct answer is false
• The second statement is whether the external users are those individuals and organizations outside a company who want financial information outside the company and the correct answer is true
• The third statement is whether there are four primary internal users of accounts. and the correct answer is false
• The fourth statement is whether the management is a primary internal user of accounting and the correct answer is true
• The fifth statement is whether the owners are internal users of financial information and the correct answer is true
• The sixth statement is whether the customers are not external users of accounts  and the correct answer is false
• The seventh statement is whether, in Mesopotamia, record-keeping was done through "Clay Triangle Drawing as evidence of recording transactions. and the correct answer is true
• The eighth statement is whether  Luca Pacioli is the Father of Accounting  and the correct answer is true
• The ninth statement is whether the British Association of Public Accountants was the initiator of the current American Institute of Certified Public Accountants (AICPA).  and the correct answer is true
• The tenth  statement is whether accounting is a process and the correct answer is true
• The eleventh statement is whether accounting is both an art and discipline and the correct answer is true
• The twelveth statement is whether accounting is NOT an information system and the correct answer is false
• The thirteenth statement is whether accounting is NOT the language of business and the correct answer is false
• The fourteenth statement is whether accounting is the process of informing, repeating, and destructing economic events and the correct answer is false
• The fifteenth statement is whether accounting is the process of informing, repeating, and destructing economic events and the correct answer is true