Dave is meeting with the SBA to seek the federally backed loan he needs to start his business. In your opinion, how important will be Dave?s knowledge and use of GAAP to the lenders who will consider his loan? Why would these entities care about Dave?s knowledge in this area?

A pply What You Have Learned Dave Berger was about to achieve his dream. Having nished culinary school and then completed his hospitality management degree, Dave was ready to seek the nancial backing he needed to open what he rmly believed would be his rst, and a very successful restaurant. Dave knew food production, was truly creative in the kitchen, and considered himself a real ''people person.'' With his educational background and solid industry experience behind him, Dave knew he had what it took to succeed. To begin his restaurant project, Dave has scheduled many appointments, including ones with the Small Business Administration (SBA) representative in his local area, the city's largest food distributor, and a tax advisor