Question: 1. Who are the internal users of accounting data? How does accounting provide relevant data to the internal users?
2. Who are the external users of accounting data? Give examples.
3. What are the three main types of business activity? Give examples of each activity.
4. Listed here are some items found in the financial statements of Finzelberg. Indicate in which financial statement(s) each item would appear.
(a) Service revenue.
(b) Equipment.
(c) Advertising expense.
(d) Accounts receivable.
(e) Common stock.
(f) Interest payable.