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Explain the importance of the budget comparison statement and cash flow report, and summarize how that information contributes to the profit and loss...

Explain the importance of the budget comparison statement and cash flow report, and summarize how that information contributes to the profit and loss statement and helps prepare the operating budget. Explain that protection by familial status is not the same as protection by age and give examples of exempted properties.

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Business is complex entity and it is very hard to detail the financial health of the company in the
single report. Every accounting report is meant with different objective, target audience and...

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