Homework Answers
4. The Firm's market value of equity is greater than its book value of equity
A higher Market value of equity indicates that firm is fundamentally strong and performing well in past. Thus, it is most likely market value of equity is greater than its book value if a lender offering large sum of money.
5. Accountants:
- construct financial statements using the accrual-based approach
- must apply Generally Accepted Accounting Principles to portray fairly how the firm has performed in the past.
Hope this will help, please do comment if you need any further explanation. Your feedback would be highly appreciated.
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