Which stakeholder is the most important to an entity? Respond from the perspective of the entity and a stakeholder.
Answer to relevant QuestionsWhat is net income? Provide an explanation that would be understandable to a person who doesn't have a good understanding of accounting.Is it advisable to make a decision to lend money to an entity by looking only at its financial statements? Explain.What are covenants? Why are covenants sometimes included in lending agreements? What purpose do they serve? Why are covenants often stated in accounting terms?Explain the difference between return on assets and return on equity. Which measure is a more useful measure of the performance of an entity? Explain.What is the management discussion and analysis (MD&A)? Why do you think public companies are required to provide an MD&A whereas private companies are not?
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