TRUE OR FALSE

1. ____ Financial accounting helps with decisions made inside an organization.

2. ____ Typically, a sole proprietor will be able to raise money easier than a corporation.

3. ____ Employees are not users of the information provided by financial accounting.

4. ____ The board of directors of a corporation is elected by its shareholders.

5. ____ Investors who hold investments in a stock longer than a year may enjoy a tax benefit.

6. ____ Corporations are required by law to pay dividends to their shareholders.

7. ____ Purchasing stock is typically a riskier investment than opening a savings account.

8. ____ Financial information is communicated in monetary terms but may be explained verbally.

9. ____ Accountants are the only users of the information provided by financial accounting.

10. ____ An entity that loans a company money is referred to as a shareholder..