1. Is it possible for companies both to maximize financial value and be socially responsible? Explain 2. List the four basic...

1. Is it possible for companies both to maximize financial value and be socially responsible? Explain 2. List the four basic types of financial ratios used to measure a company’s performance, give an example of each type of ratio and explain its significance. 3. Name and describe 4 commonly used sources of short-term financing 4. Why is the $1,000 you receive today worth more than $1,000 you receive next year? What concept does this illustrate? Why is this concept particularly important when firms evaluate capital budgeting proposals? 5. Financial statements are prepared using generally accepted accounting principles (GAAP). Who is responsible for establishing these principles, and what goals guide their formulation? Why has GAAP been criticized in recent years? 6. State the “accounting equation” and define each of its terms. What is the logic behind this equation? 7. Discuss the key differences between financial accounting and managerial accounting