18 Financial Accounting 1 Application Exercises Multiple-choice Questions 1 Which of the following would not be considered internal user of accounting data for a company? A The CEO of a company C Bank Manager of a financial instirution B D The General Manager of a company Office clerk of a company 2 Which of the following statements is true? A Accounting provides external reports to managers B Accounting does not communicate the economic events C Accounting is not important for the company D Accounting is useful for business decision-making 3 A sole proprietor of a business is A A business owned by one person B A separate legal entity C A D None of the above owned by rwo or more persons 4 Which of the following is part of the accounting process? C Falsifying economic events Which of che following is one of the branches of accounting? D Communicating