Interpretation should include both paper and electronic financial statements (e.g., income statement, balance sheet, cash flow statement, forecasting) and an explanation of the purpose of each.
Process/Skill Questions:
- What is a cash flow statement?
- How can poor financial management affect the operation of a business?
- What is the benefit of using a daily balance sheet?
- How is a forecast used in marketing and sales?
- What is another name for an income statement?