Companies file for bankruptcy protection more often than not due to cash problems. We know from studying accrual accounting that profits and cash flow most often have different timing. Comment on how the income statement and the cash flow statement are connected. Do you feel both statements provide sufficient information for internal managers and external investors to make good decisions? Provide support for your response.

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The income statement and cash flow statement is connected to a great extent The following points would prove the interconnection 1 There is an indirec... View the full answer