Asked by Shalonda Lyons on May 28, 2024

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Which of the following groups uses accounting information primarily to ensure the company is operating within prescribed rules?

A) taxing authorities
B) regulatory agencies
C) labour unions
D) management

Accounting Information

Data related to the financial transactions and status of an organization, used for analysis, decision-making, and compliance.

Taxing Authorities

These are government agencies responsible for imposing and collecting taxes from individuals and businesses.

Regulatory Agencies

Government bodies responsible for enforcing specific laws and regulations to protect public interests.

  • Comprehend the significance and responsibilities of various external stakeholders, such as labor unions, prospective employees, and tax agencies.
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Verified Answer

MC
Mahak ChhajedJun 02, 2024
Final Answer :
B
Explanation :
Regulatory agencies use accounting information primarily to ensure that companies are operating within prescribed rules and regulations. They monitor compliance with laws and standards to protect public interest.