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Can you show an example of where accounting rules may be applied differently and yet consistent with GAAP? Why do we care as a society

Can you show an example of where accounting rules may be applied differently and yet consistent with GAAP? Why do we care as a society about accounting rules? Show by way of example, what happens when a company does not follow legitimate accounting practices.


Explain the value of financial ratios and why they are important? 


How are they used by companies, by investors, by analysts?

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