What is the objective for business budgeting? What are the four advantages that a good budget provides? Explain.;There are three basic types of financial statements that provide stakeholders a broad picture of an organization?s finances. What are these three statements? Describe each of them.;What are the generally accepted accounting principles (GAAPs)? Why do we need GAAPs? What is the purpose and goal for this practice? What is the challenge of using this practice?;Managers rely on financial ratio analysis when making decisions. What are the four key ratios? What information does each provide?
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