ACCT 331 Key PASSED Exam Questions and CORRECT Answers
Balance Sheet a financial statement that reports the assets, liabilities, and equity of a company at a particular time Liquidity useful for determining company's ability to pay current obligations (to convert its assets to cash) Solvency whether a company is able to pay all its liabilities including long-term liabilities. riskiness regarding the amount of liabilities in the capital structure Financial flexibility how many recourses available for generating future cash flows - to alter cash flows in order to take advantages of unexpected investment opportunities and need
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