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Question

Briefly discuss the informational needs of any three external users.


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Solution

Informational needs of any three external users are: Bank and financial institutions: they need information on creditworthiness, solvency, liquidity and profitability. Creditors: They need the information to whom a business owes money on account of credit purchases of goods and receiving services. Investors and potential investors: they need information before investing in a business plan.



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