EXERCISESa. Ownership of Spirit Company is divided into 1000 shares of stock.b.

EXERCISESa. Ownership of Spirit Company is divided into 1000 shares of stock.b. Delta is owned by Sarah Gomez who is personally liable for the debts of the business.c. Jo Chen and Al Fitch own Financial Services a financial services provider. Neither Chen nor Fitchhas personal responsibility for the debts of Financial Services.d. Sung Kwon and Frank Heflin own Get-It-There a courier service. Both are personally liable forthe debts of the business.e. XLT Services does not have separate legal existence apart from the one person who owns it.f. BioProducts does not pay income taxes and has one owner.g. Tampa Biz pays its own income taxes and has two owners.Much of accounting is directed at servicing the information needs of those users that are external toan organization. Identify at least three external users of accounting information and indicate two questionsthey might seek to answer through their use of accounting information.