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Explain the Difference between cash and profit
Cash flow statement shows all the cash in and cash out for the organisation for that period. It demonstrates the cash generating ability of the organisation. Income statement on the other hand shows profitability of the business during that period. Income statement is prepared using the accruals concept. This is where revenue and expenses are recognised in the period that they are incurred and not in the period the cash is received or paid. That's why you have a difference between profit andcash.
What is GATT, and what is its goal? GATT is also termed as General Agreement on Tariffs and Trade. It is a treaty which seeks to decrease trade barriers among participant nation
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If invested 2500 in a bank that pays 1% annually. How long will it take for the funds to double?
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