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A Discussion On Balance Sheets And Financial Statements

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1. How does a balance sheet of a service organization differ from that of a manufacturing company?
2. How can you utilize financial statements in communicating to and managing employees?

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This solution helps in discussing how the balance sheet of a service organization differs from that of a manufacturing company.

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1. How does a balance sheet of a service organization differ from that of a manufacturing company?

Balance sheets represent the assets and liabilities of organization. The balance sheet of a service organization will have fewer inventories compared to a manufacturing company. This is because service organizations do not deal much in tangible products, as they deal in intangible products, known as services. Some examples of ...

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