Question: 1. How can financial records allow you to identify problems in your business? 2. What purpose do GAAP and FASB serve for a small business

1. How can financial records allow you to identify problems in your business?
2. What purpose do GAAP and FASB serve for a small business owner?
3. If you were setting up open-book management in your business, what would
you teach employees to make it work?
4. Cash flow is described as the lifeblood of a business. How would you explain
this description to someone who does not understand business finance?

please don't copy and paste from other Chegg answers, I will vote up, thank you.

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