1) Discuss why you feel it is important for a business owner to understand the connections between the financial statements. 2) Give an example of how regular analysis of the information might assist owners or managers to make better decisions about one of the following scenarios. Scenario A: The operation and profitability of the business. Scenario B: Financing the business to reduce the risk of running out of cash? You should include the accounts you would evaluate in your example and which financial statement the account is found.

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1 Understanding the connections between financial statements is crucial for business owners because it provides a comprehensive view of a companys financial health performance and operational efficien... View the full answer