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Choose ONE (1) question below to discuss and then respond to TWO (2) of your classmates answers (Try not to repeat others answers). Include the question with your response.
1. How do charity care and bad-debt differ in both definition and how they are treated on financial statements? Explain.
2. What is the difference between net income and cash flow? In your discussion, include a discussion of what financial statements are used to report these measures.
3. What are the three types of revenue on an income statement? Explain each.
4. What is a non-cash expense? Provide some examples. What financial statement are non-cash expenses recorded on?
5. What is financial accounting? How does it differ from managerial accounting?
