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GAAP is the financial accounting reporting standard for public companies in the United States. However, there are no managerial accounting standards. Should we be concerned

GAAP is the financial accounting reporting standard for public companies in the United States. However, there are no managerial accounting standards. Should we be concerned that there are no such comparable reporting standards for managerial accounting?

In determining the survivability of the company, are the liquidity ratios more important than the debt, activity or profitability ratios? Explain.

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