CBSE · Class 11 · Accountancy · Introduction to AccountingWhich of the following is an internal user of accounting information?
Step-by-Step Solution
Management is an internal user of accounting information. They require detailed financial reports for planning, controlling, and decision-making within the organization, whereas banks, creditors, and customers are external users.
Detailed Options Breakdown
Option : Banks
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Introduction to Accounting.
Option 1: Creditors
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Introduction to Accounting.
Option 2: Management (Correct Answer)
Correct choice. Refer to the step-by-step verified solution guidelines above for details.
Option 3: Tax authorities
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Introduction to Accounting.
💡 Study Guide: This question tests core syllabus concepts from Introduction to Accounting. For formulas, key summaries, and mock exam reference guides, read the full Introduction to Accounting Revision Notes.