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Financial reporting is directly linked to the business cycle. The business cycle requires record keeping and financial information to give the process substance. Without the

Financial reporting is directly linked to the business cycle. The business cycle requires record keeping and financial information to give the process substance. Without the execution of proper record keeping and reporting, businesses may never be able to determine whether their efforts have produced economic benefits for their owner/s or not. Required In your own words describe the business cycle and how accounting and reporting correlates to all elements of the business cycle

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