Question 4 (1 point) Which of the following defines managerial accounting system? Measures the cost of replacing an employee. Provides the appropriate information to the external community. Records transactions when money is either received or spent. Provides information to the management of a business and aids in internal controls. Records transactions when they occur. Question 5 (1 point) Trade credit involves: no explicit obligation or expectation, on the part of the investors, to be repaid their investment. purchasing supplies or equipment through financing made available by vendors. pledging some assets-such as a home, real estate, machinery, and plant-as collateral guaranteeing a portion of the loan to partners that include private lenders, microlending institutions, and community development organizations. business plan competitions hosted by colleges and universities or small business associations