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a)What are the phases of the life cycle of an entity? b)What effect does each phase have on the amounts reported in a statement of
a)What are the phases of the life cycle of an entity?
b)What effect does each phase have on the amounts reported in a statement of cash flows?
c)Contrast the advantages and disadvantages of the direct and indirect methods of reporting on cash flows from operating activities.
d)Give an example of a cash-based ratio to measure these characteristics of an entity:
1.liquidity
2.solvency
3.profitability.
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