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1.Why cash flow statements are sometimes considered more useful than profit statements? Give FOUR (4) reasons and explain briefly. 2.Describe a capital account and current

1.Why cash flow statements are sometimes considered more useful than profit statements? Give FOUR (4) reasons and explain briefly.

2.Describe a capital account and current account in a partnership business including the explanation on the meaning of debit and credit balance on the partners current account (5 MARKS)

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