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Question: 1. In discussing a firm’s latest


1. In discussing a firm’s latest financial statements, a manager says that it is the “results on the bottom line” that really count. What does the manager mean?
2. If a firm’s expenses equal or exceed its revenue, what actions might management take?
3. How can management find out, at any time, whether a firm can pay its bills as they become due?
4. How do the income statement and the balance sheet help management make sound decisions?

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