Whether a business is successful and thrives is determined by markets, competition and free enterprise. free enterprise or competition. competition and markets only. markets and competition only. Information provided by accounting is important because it enables investors and creditors to channel their resources more effectively. compare income and assets of companies. all of the above assess the relative risks and returns of investment opportunities. Audited financial statements are prepared by auditors. Canada Revenue Agency. management. financial analysts. The "efficient markets hypothesis" proposes that market prices reflect information known only to internal stakeholders. market prices reflect information known only to external stakeholders. information asymmetry is required. market prices reflect all publicly available information about a company. Under ASPE, the primary sources of GAAP include research studies. International Financial Reporting Standards. the CPA Handbook and appendices. accounting textbooks and journals