Question: Define Generally Accepted Accounting Principles ( GAAP ) and explain why it is important. Imagine you are a manager of a company. What do you

Define Generally Accepted Accounting Principles (GAAP) and explain why it is important.
Imagine you are a manager of a company. What do you feel is the most important financial ratio? Why?
what is a Statement of Cash Flows and how does it help the companys leadership team better manage its finances?

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