1. There are seven groups of primary users of financial statements information. List five of them and describe the information needs of these groups. (5 marks) 2. The financial statements of a limited liability company will consist solely of the statement of financial position and statement of profit or loss and other comprehensive income. Is this statement true or false? Explain. (3 marks) 3. The IASB's conceptual framework refers to the four enhancing qualitative characteristics. Explain how these ensure that the financial statements are useful to users.