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, Student Value Edition Plus MyLab Accounting with Pearson eText -- Access Card Package (11th Edition)
- I want the correct answer with accounting questionarrow_forwardGeneral Accounting Question please answerarrow_forwardIncorrect Question 6 0 / 10 pts Audit Organization ABC is evaluating the different non-audit services it provides to its various clients. Indicate which of the following non-audit services would impair its independence. There are multiple answers. (Hint: There are five non-audit services that would impair the firm's independence). Hiring or terminating the audited entity's employees. Preparing financial statements in their entirety from a client-provided trial balance. Evaluation of an entity's system of internal control performed outside the audit. Approving entity transactions. Supervising ongoing monitoring procedures over an entity's system of internal control. Preparing certain line items or sections of the financial statements based on information in the trial balance. Preparing account reconciliations that identify reconciling items for the audited entity management's evaluation. Changing journal entries without management approval. Posting coded transactions to an audited…arrow_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