Essay Questions 102. Indicate whether each of the following statements about markets is true or false. _______ a) Financial resources can be provided to a business by investors and creditors._______...

Essay Questions

102. Indicate whether each of the following statements about markets is true or false.

_______ a) Financial resources can be provided to a business by investors and creditors.
_______ b) Conversion agents are the businesses that transform resources into products that satisfy consumer desires.
_______ c) Physical resources include the labor of the production workers.
_______ d) Resource owners purchase their resources from conversion agents.
_______ e) Consumers are the main providers of resources in any market.

103. Indicate whether each of the following statements about accounting information is true or false

_______ a) Financial accounting is primarily intended to satisfy the information needs of external resource providers.
_______ b) Financial accounting information is useful only to banks and stockholders.
_______ c) The accounting information intended to satisfy the needs of a company's employees is managerial accounting information.
_______ d) Managerial accounting is primarily intended to satisfy the information needs of the internal users.
_______ e) Managerial accounting information is usually more detailed than financial accounting information.