We made a profit of $124000, so why is there only $15000 in the bank? exclaimed Mr
Question:
We made a profit of $124000, so why is there only $15000 in the bank?’ exclaimed Mr Charlton, the owner of the local fish and chip shop. Explain to Mr Charlton the relationship between profit and cash flow, to help him understand the reason why there is such a big difference between profit and cash in the bank.
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The recording of transactions to determine a profit or loss for a period is based on accr...View the full answer
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ISBN: 9780730369325
7th Edition
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