In biblical times, livestock was the indicator of wealth and, in essence, was the currency that was traded. Therefore, Proverbs 27 warns that it is important to know the condition of your flock and to give careful attention to your herds because riches do not endure forever. How can I relate this concept to the importance of financial statements in today's business environment and how could I describe each financial statement and examine how each helps a business to "know the condition of its flock."

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Here is how I would relate the biblical concept in Proverbs 27 to the importance of financial statem... View the full answer