Defend the statement, “the function of accounting is to produce information that is useful for decision making.”
Answer to relevant QuestionsWhy should you, as a business owner care about the distinction between costs and expenses? Why is it important to plan for the amounts and timing of cash inflows and outflows? In what ways do the “4-C's” for borrowing differ from the requirements to be able to obtain equity capital? What things do you need to do to convince an investor to make you a loan or purchase equity in your business? The case mentions two kinds of risks faced by chimney sweeps. Name some others.
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