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please solve b c d also For each user of accounting information, identify if the user would use financial accouting (FA) or managerial accounting (MA).
please solve b c d also
For each user of accounting information, identify if the user would use financial accouting (FA) or managerial accounting (MA). a. investor b. banker C. Internal Revenue Service d. manager of the business e. owner f. stockholder g. human resources director h. creditor Michael McNamee is the proprietor of a property management company, Apartment Exchange, near the campus of Penscola State College. The business has cash of $8,000 and furniture that cost $9,000 and has a market value of $13,000. The business debts include accounts payable of $6,000. Michael's personal home is valued at $400,000 and his personal bank account has a balance of $1,200. Identify the principle or assumption that best matches the situation: a. Michael's personal assets are not recorded on the Apartment Exchange's balance sheet. b. The Apartment Exchange records furniture at its cost of $9,000, not its market value of $13,000. c. The Apartment Exchange records its financial statements in U.S. dollars. d. Michael expects the Apartment Exchange to remain in operations for the foreseeable future. a. Michael's personal assets are not recorded on the company's balance sheet: the cost principle. the economic entity assumption. the faithful representation principle. the going concern assumption. the monetary unit assumptionStep by Step Solution
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