1 discuss the purpose of financial reporting and the, Ask an Expert

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1. Discuss the purpose of financial reporting and the potential problems that might emerge due to mishandling/misreporting financial data.

2. Albatross Boats can borrow $450,000 from its bank using a 30-day discount interest loan. The loan has a quoted interest of 9 percent and no compensating balance requirement. (a) Compute the loan's APR and rEAR (b) Compute the amount Albatross must borrow so that is has $450,000 to use to pay bills. Compute the loan's APR and rEAR

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