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Draft a response to each of the bulleted questions below. Each question must have its own response and have a minimum of 50 words.
- Today 2/26/2016 ABC Sport company sells 1500 shoes to a customer on credit (30 day credit term) for a total of $20,000, how will this trade activity affect ABC company’s cash flow (Operating Activities) for the month of Feb, 2016 and Mar, 2016 when $20,000 is paid?
- Discuss the difference between cash flowand profit in the world of finance. Which one do you think is more important, and why?
- In the context of agency problems, what conflicts of interest can arise between managers and stockholders?
- Why is ethical behavior so important in the field of finance?
- Does the goal of shareholder wealth maximization conflict with behaving ethically? Explain.
- Describe how financial institutions and markets facilitate the expansion of a company’s business.
- List and describe the four major financial statements.
- How does the choice of accounting method used to record fixed asset depreciation affect management of the balance sheet?