Question: 1. Explain the difference between financial accounting and managerial accounting. Also, explain the accounting equation. 2. Explain the purposes and use of Ratio analysis in

1. Explain the difference between financial accounting and managerial accounting. Also, explain the accounting equation.

2. Explain the purposes and use of Ratio analysis in general and Current, Activity, Short-Term and Long-Term Debt Ratios in particular.

(150 words.)

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