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The role of the board of directors, etc.
? What is the goal of financial management?
? Advantages & disadvantages of the three corporate forms.
Chap. 2.
? Know the relationship between the balance sheet and the income statement in terms of sales growth. Your book does not explicitly state this relationship. So here it is: That is, liabilities finance assets & equity finances assets. Assets are used to generate sales. In generating sales we create expenses. We want sales to be greater than expenses leading to net income. Net Income is then closed out to retained earnings and the process begins the next operating cycle...
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