Question

Which of the following groups/ parties are interested in the accounting information of the business?

• A. Creditors
• B. Proprietors or owners
• C. Tax authorities
• D. All of these

Answer 1

Answer: (D)

There are various stakeholders in the business who want to know about the business progress and financial position of the business.

Owner of the business is interested to know the profitability and business growth.

Creditors are more interested to know the financial position of the concern. Whether the firm will be able to repay their debt on time.

Tax Authorities are interested to know that the concern is maintaining the books of account properly and due taxes are paid on time.