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Chapter 1 - Fill in the blanks

Fill in all the gaps, then press "Check" to check your answers. Use the "Hint" button to get a free letter if an answer is giving you trouble. You can also click on the "[?]" button to get a clue. Note that you will lose points if you ask for hints or clues!

1. The four main stages in the process of accounting are: , , and the economic transactions of an entity.

2. Financial information assists managers in their three main responsibilities, which are , controlling and decision making.

3. The term that means that the owners are personally responsible for all debts incurred by the business is .

4. The main source of financial information on a limited liability company available to those outside the business is the .

5. The seven external users of general purpose financial statements are .


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