Provided below is a list of important users of accounting information.Below the list are descriptions of a major need of each of the various users.Fill in the blank with the one user group that is most likely to have the need described to the right of the blank.Some user groups may be used more than once or not at all.
-The profitability of the company based upon the Internal Revenue Code.
A)Stockholder
B)Company management
C)Supplier
D)Banker
E)Internal Revenue Service
F)Securities and Exchange Commission
G)Labor union

Question

Quizplus · Accepted Answer

The Internal Revenue Service (IRS) is responsible for enforcing the Internal Revenue Code, which includes regulations regarding a company's profitability and tax liabilities. Therefore, the IRS has a major need for information on the profitability of the company. Stockholders, company management, suppliers, bankers, and labor unions may also be interested in understanding the profitability of the company, but their needs are not specifically related to the Internal Revenue Code. The Securities and Exchange Commission (SEC) may also require information on the profitability of the company, but this need is more focused on ensuring that accurate and reliable financial information is being provided to the investing public.

Provided Below Is a List of Important Users of Accounting