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I do not have an answer to this question: What does the following statement mean? If I want to assess the cash flow prospects for
I do not have an answer to this question: What does the following statement mean? If I want to assess the cash flow prospects for a company "down the road," I look at the company's most recent statement of cash flows. An income statement prepared under the accrual basis of accounting is "useless" for this purpose. PLEASE NOTE: This is a short answer question." Why is the accrual basis of accounting "useless" for this purpose? Thanks
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