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You are considering starting up a small business. It will be too small to be regulated by the SEC and so you will not be

  1. You are considering starting up a small business. It will be too small to be regulated by the SEC and so you will not be legally required to produce financial statements.
    1. Why might you consider doing so anyway? Who might be interested in your financial statements and why?
    1. Why would being familiar with the FASB's conceptual framework be useful in preparing the financial statements?

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