Which of the following is used by both internal and external users?
A) Chart of Accounts
B) Trial Balance
C) Balance Sheet
D) Costing Reports

Question

Quizplus · Accepted Answer

The Balance Sheet is a financial statement used by both internal and external users to assess the financial health of a business. It provides a snapshot of a company's financial position, including assets, liabilities, and equity, at a specific point in time. Internal users, such as management, use it for decision-making purposes, while external users, such as investors and creditors, use it to evaluate the company's financial stability and performance.

Which of the Following Is Used by Both Internal and External