1- What four financial statements are contained in most annual reports?

2- Who are some of the basic users of financial statements, and how do they use them?

3- If a "typical" firm reports $20 million of retained earnings on its balance sheet, could its directors declare a $20 million cash dividend without having any qualms about what they were doing? Explain your answer.

4- Establishing an effective account receivable management strategy is a crucial part of running a successful business. Do you agree that business owners should make the policy related to accounts receivables dynamic rather than fixed? Discuss.