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What Is Accounting?: Mastery Test

Select the correct answer.

Petra is the chief executive officer of a logistics company. She reviews her company's financial statements regularly when making further expansion plans. How would you categorize Petra?

A. External user
B. Internal user
C. Debtor
D. Creditor

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Answer :

GinnyAnswer

Final answer:

Accounting involves recording and analyzing financial transactions. Petra in the scenario falls under the category of an internal user.


Explanation:

Accounting is the process of recording, summarizing, analyzing, and reporting financial transactions of a business or organization. In the given scenario, Petra, as the CEO reviewing financial statements for expansion plans, would be classified as an internal user. Internal users use financial information to make decisions within the organization.


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