Asked by Andres Velazquez on May 16, 2024

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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

Internal Users

Individuals within an organization who use financial information to make decisions, including managers and employees.

Accounting Information

The financial data and records about a company's transactions, financial performance, and condition, used to make business decisions, prepare financial statements, and comply with financial reporting standards.

Employees

Individuals hired by a company to perform tasks in exchange for compensation, typically through wages or salaries.

  • Discriminate between the specific needs of internal versus external consumers of accounting information.
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CC
Christy ChrisMay 18, 2024
Final Answer :
C
Explanation :
Internal users refer to individuals or groups within the organization who use accounting information for decision-making. Employees and managers fall into this category as they need accounting information to perform their daily responsibilities effectively. Option A and B include external users (customers and vendors) who are not part of the organization, while option D includes regulatory bodies and financial institutions that are also external users.