poa theory chapters 1-4

Question 1

stakeholders

Answer 1

supply goods/nca or services to other businesses
whether to sell to the business on credit depending on the ability to pay

Question 2

customers

Answer 2

buying goods/nca or services from the business
whether to buy from a business depending on the business’ ability to provide goods

Question 3

managers

Answer 3

work for the business and devise strategic plans to run the business more efficiently
whether to consider improving performance of business

Question 4

employees

Answer 4

work for the business and perform executive duties
whether to continue working at the business

Question 5

integrity

Answer 5

straightforward and honest in all professional relationships

Question 6

objectivity

Answer 6

accountant who’s objective is to not let bias, conflict of interest or undue influence of others override professional judgement

Question 7

cash transactions

Answer 7

payment made at the same time or immediately during a cash sale or purchase

Question 8

credit transactions

Answer 8

payment is delayed/postponed during credit sale or purchase