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| 1 | |
Why are accountants so important to a corporation? What function do they perform? |
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| 2 | |
Discuss the internal uses of accounting statements. |
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| 3 | |
What is a budget? |
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| 4 | |
Discuss the external uses of financial statements. |
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| 5 | |
Describe the accounting process and cycle. |
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| 6 | |
The income statements of all corporations are in the same format. True or false? Discuss. |
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| 7 | |
Which accounts appear under "current liabilities"? |
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| 8 | |
Together, the income statement and the balance sheet answer two basic questions. What are they? |
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| 9 | |
What are the five basic ratio classifications? What ratios are found in each category? |
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| 10 | |
Why are debt ratios important in assessing the risk of a firm? |
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