Question;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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