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ACC 220 Week 3 DQ 1 and DQ 2

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Discussion Questions

When reviewing a financial report, why must information be reliable, relevant, consistent, and comparable? Why are these accounting characteristics important? What kinds of problems might result if a financial report is not reliable, relevant, consistent, or comparable?

How does information from financial reports influence business decisions? Why is it important for business managers to understand the information found on financial reports?

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