Small Business Management Study Set 1
Quiz 8: Accounting Records and Financial Statements
Each Business Day, 5,000 Small Businesses in the United States
Each business day, 5,000 small businesses in the United States declare bankruptcy primarily because of poor cash flow management.
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Without proactively managing a firm's cash flow, the firm is exposed to many risks, each of which could spell disaster.
The primary reason a small business needs adequate cash flow is to pay the bills incurred by the business.
Figure 8.5 in the chapter shows that the cash-to-cash cycle is the amount of time that passes between spending money for raw materials to receiving revenue from selling finished products.
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