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Finance for Nonfinancial Managers, Second Edition (Briefcase Books Series), 2nd Edition by Gene Siciliano

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The Structure and Interrelationship of Financial Statements

Every corporation has, from the moment it’s formed, an indefinite life under the law. The corporate laws of every state grant a corporation the right to perpetual existence to enable management to take strategic actions that will have a long-term impact on the company’s survival and growth. These include making long-term contracts and issuing certificates of ownership (stock) that don’t expire.

  But perpetual existence is only a legal concept. In reality, most companies follow a pattern of birth, rapid growth, slowing growth, plateau or no growth, decline, and demise (Figure 2-1). That ...

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