The accounting process involves all of the following except a. Analyzing and interpreting financial reports. b. Recording non?quantifiable economic events. c. Communicating financial information to users by preparing financial reports. d. Identifying economic events that are relevant to the business. Which of the following would not be considered an external user of accounting data for the GHI Company? a. Creditors. b. Customers. c. Management. d. Taxing authority representative.

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Alisa Gilmore · Accepted Answer

the correct option with proper explanation are as followsAnswer:(1) The correct option is : (b). Recording non ? quantifiable economic eventsExplanation:According to money  measurement concept the transaction recorded in accounting should have monetary value. . Recording non quantifiable means not measurable in terms of money. So option &#039;b&#039; does not have monetary value. So, it not a process of accounting(2) the correct option is : (c). managementExplanation:Management is considered as the internal user of accounting data. They belong to the company and they are the stakeholders who are within the company. So they can&#039;t be considered as external users. All others are external users of accounting data. Taxing authority, customers and creditors are the external users of accounting data.

The accounting process involves all of the following except a. Analyzing and interpreting financia

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