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1.1.Question : (TCO 8) Projecting financial statements via the budgeting process helps the small business owner to:
track and monitor current expenses.
measure liquidity of the firm.
transform business goals into reality.
calculate his or her return on the amount invested in the company.
Question 2. Question : (TCO 8) The first step in managing cash more effectively is:
understanding the company’s cash flow cycle.
having an adequate cash reserve for emergency expenditures.
speeding up payment of accounts receivable.