External and Internal Users and Uses of Accounting


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What statement(s) do external and internal users of accounting information rely on?

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1. Which of the following is an example of external users of accounting information?

2. Djokovic is the Chief Information Officer for InfoTech Inc. Murray is the Chief Lending Officer at the Bank where InfoTech has a large bank loan. Which statement is true for both Djokovic and Murray, in connection with InfoTech?

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About This Quiz & Worksheet

This quiz and worksheet can help you assess your understanding of internal and external uses in accounting. Topics you will need to know to pass the quiz include the purpose of income statements and statement of cash flows.

Quiz & Worksheet Goals

Use this worksheet and quiz to assess your understanding of:

  • The type of account that tells the user what their balance is
  • What an income statement tells the user
  • Internal users of accounting information
  • External users of accounting information

Skills Practiced

This quiz and worksheet can help you practice the following skills:

  • Interpreting information - verify that you can read information regarding internal and external users and interpret it correctly
  • Information recall - access the knowledge you have gained regarding what income statements tell users
  • Reading comprehension - ensure that you draw the most important information from the related financial lesson

Additional Learning

To learn more about internal and external users in accounting, review the lesson titled External and Internal Users and Uses of Accounting. This lesson will help you:

  • Understand how to read a balance sheet
  • Compare and contrast external users and internal users of accounting information
  • Learn about the purpose of the statement of cash flows