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Is the business making a profit? How do you know? What is the business' total net worth at this moment? Why is it important to

  • Is the business making a profit? How do you know?
  • What is the business' total net worth at this moment?
  • Why is it important to look at an independent auditor's opinion of a company?
  • What are the key differences between financial accounting and management accounting?
  • How do management accounts view cost?
  • How do implicit and explicit costs differ? Give examples.

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