Who are the users of the financial statements?
A)Management.
B)Auditors.
C)Taxing Authorities.
D)Both A and C.

Question

Quizplus · Accepted Answer

The users of the financial statements include management who use the statements for decision making and planning, as well as taxing authorities who use the statements for assessing taxes. Auditors also use the statements to ensure their accuracy and compliance with accounting standards, but they are not the only users. Therefore, both option A (management) and option C (taxing authorities) are correct.

Who Are the Users of the Financial Statements