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1 How does the accountant decide whether to classify an interest payment or receipt as an operating activity? 2 Financial accounting statements reflect past events.
1 How does the accountant decide whether to classify an interest payment or receipt as an operating activity?
2 Financial accounting statements reflect past events. Therefore they are not useful in assisting users make decisions as decisions can only be made about future actions.
3 Describe some limitations of the analysis of financial statements. Provide suggested remedies for each of the limitations cited.
4 When do you use average amounts in financial ratio calculations?
A maximum of 50 words for each question
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