Concept Introduction:
Stakeholders of the Business:
The stakeholders of the business can be defined as the group of person or the concerns who have some kind of interest in the business, it can be in anything. They can affect or they will be affected by the actions of the business, depending upon their area of concern. The stakeholders can be customers, government, managers, employees, debtors, creditors etc.
To indicate:
Primary Stakeholder group to whom management is responsible for each of the following management responsibilities –
1. Providing high-quality, reliable products/services for a reasonable price in a timely manner
2. Paying taxes in a timely manner
3. Providing a safe, productive work environment
4. Generating a profit
5. Repaying principal plus interest in a timely manner
Want to see the full answer?
Check out a sample textbook solutionChapter 18 Solutions
Horngren's Accounting, The Financial Chapters (11th Edition) - Standalone Book
- Poonam's material quantity variance is favorable or unfavorablearrow_forward??arrow_forwardPoonam has a standard of 1.5 pounds of materials per unit, at S6 per pound. In producing 2,000 units, Poonam used 3,100 pounds of materials at a total cost of $18,135. Poonam's material quantity variance is favorable or unfavorable?arrow_forward
- General Accountingarrow_forwardSubject: General Accountingarrow_forwardThe following information describes a company's usage of direct labor in a recent period: Actual direct labor hours used 32,500 Actual rate per hour $18.00 Standard rate per hour $16.50 Standard hours for units produced 32,000 How much is the direct labor efficiency variance? Answer: $8,250 unfavorablearrow_forward
- AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
- Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSONIntermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill EducationFinancial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education