FINANCIAL ACCOUNTING

a. Delta Air Lines, Marriott, Gap Inc. b. Gap Inc., Amazon, Nike Inc. c. GameStop, Sony, Dell d. GameStop, Best Buy, Gap Inc. ANSWER: d 59. Which of the following groups is considered to be internal users of accounting information? a. employees and customers b. customers and vendors c. employees and managers d. government entities and banks ANSWER: c 60. The following are examples of external users of accounting information except a. government entities b. customers c. creditors d. managers ANSWER: d 61. Which of the following is the best description of accounting’s role in business? a. Accounting provides stockholders with information regarding the market value of the company’s stocks. b. Accounting provides information to managers to operate the business and to other users to make decisions regarding the economic condition of the company. c. Accounting helps in decreasing the credit risk of the company. d. Accounting is not responsible for providing any form of information to users. That is the role of the Information Systems Department. ANSWER: b 62. Managerial accountants would be responsible for providing information regarding a. tax reports to government agencies b. profit reports to owners and management c. expansion of a product line report to management d. consumer reports to customers ANSWER: c 63. Which of the following is not a certification for accountants? a. CIA b. CMA c. CISA d. IRS ANSWER: d 64. Which of the following is not a role of accounting in business? a. to provide reports to users about the economic activities and conditions of a business b. to personally guarantee loans of the business c. to provide information to external users to determine the economic performance and condition of the business d. to assess the various informational nee