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Income Statement Recognition Principles and Statement of Cash Flows Q 1 - a . Why are the principles of expense and revenue recognition important in

Income Statement Recognition Principles and Statement of Cash Flows

Q $1 -$ a $.$ Why are the principles of expense and revenue recognition important in the formation of an income statement?

Q $2 -$ a $.$ How is the statement of cash flows useful?

Q $2 -$ b $.$ Who would likely use this statement?

Q $2 -$ c $.$ What number $($ s $)$ does it tie to on the other financial statements?

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