If a firm presents an income statement and a bal- ance, Ask an Expert

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If a firm presents an income statement and a bal- ance sheet, why is it necessary that a statement of cash flows also be presented? 2-A member of the board of directors is puzzled by the fact that the firm has had a very profitable year but does not have enough cash to pay its bills on time. Explain to the director how a firm can be profitable, yet not have enough cash to pay its bills and dividends. 3- Why is it important to disclose certain noncash investing and financing transactions, such as exchanging common stock for land?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92800090

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