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PLEASE ANSWER THE QUESTION ASAP Scenario: Pretend that you and three friends run a small landscaping...

PLEASE ANSWER THE QUESTION ASAP

Scenario: Pretend that you and three friends run a small landscaping business. You are currently structured as a general partnership and want to expand your business so that you can attract and serve new clients. You also need to purchase additional equipment to provide your services and would like to hire a part-time accountant. You recognize that you need to increase capital in order to expand; you also recognize that you may need to change your business ownership structure.

Question:

Explain how organizations use accounting and financial information to make decisions.

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Answer #1

For making the right decision, Management depends on statistical data and information that accounting provides. The main object of Accounting is to record financial transactions systematically in the books of accounts and to find out the profit-loss and financial position of a business.

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