Write TRUE f the underlined word takes tie statement about users of
financial statements correct otherwise write the correct word to make the
statement true. Write your ansvers on a separate sheet of
1. The academe uses accounting information for studying the field of
accountancy and to be able to produce future accountants and business
managers
2. Employees primarily use financial reports in order to respond accordingly
to the issues of the company
3. Customers check whether the company is profitable enough to pay
salaries and compensation.
4. Management looks at financial statements so they will know how much
return on investment they have earned from the company,
5. The government studies the financial records of the company to
determine the taxes payable.
6. Owners are interested whether a company will continue to honor product
warranties and support its product lines.
7. The General Public is interested in accounting information because they
use financial statements to gauge the condition of the economy and for them to properly respond to the various economic cycles.

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