What this practice covers
These questions are drawn from past CIE 9706 Accounting papers and filtered to users of accounting information. You answer, you find out immediately whether you were right, and you get the reasoning for the correct option and for each distractor. Wrong answers go to a mistakes locker so you can come back to exactly those.
Practice is free. You need an account only so your progress and your mistakes are still there next time.
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What examiners see students get wrong here
These are the errors that cost marks on users of accounting information, taken from our own topic notes. Read them before you practise and you will recognise the traps in the questions.
- Listing users without saying what each one needs.
- Giving the same reason for every user, usually "to see if the business is profitable".
- Saying published accounts show the value of the business.
- Naming a qualitative characteristic without applying it to the scenario in the question.
- Saying financial statements are always accurate. They contain unavoidable estimates.
- Forgetting that managers have access to information no external user sees.
Revise it first
If any of the above is unfamiliar, work through the notes before practising: Users of accounting information revision notes.