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Answer based on the following scenario: You were a chosen accountant by the CEO of your company. He has asked you to do due diligence
Answer based on the following scenario:
You were a chosen accountant by the CEO of your company. He has asked you to do due diligence on another company he's interested in acquiring. The business in question does not have cash. However, they have a positive income statement showing they can pay off debts, pay dividends, etc.
Begin by explaining what is a due diligence report and how a company can be valued. How would you describe to your CEO what situation the company is in while also advising him based on the information above?
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