=+1. Presented in the exhibit for Case 1 is a graph of accounting income, cash flows from
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=+1. Presented in the exhibit for Case 1 is a graph of accounting income, cash flows from operations, and working capital flows from operations for W. T. Grant Company, a retailer that filed for bankruptcy in 1976. As late as 1973, the company's stock was selling for 20 times earnings. What does the chart indicate concerning the usefulness of income, cash, and funds flows?
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Related Book For
Accounting Theory Conceptual Issues In A Political And Economic Environment
ISBN: 9780324186239
6th Edition
Authors: Harry I. Wolk, James Dodd, Michael G. Tearney
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