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Polydoros S.
Tutor of History, Business and Finance
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European History
TutorMe
Question:

What types of governments were used to govern ancient Athens and Sparta?

Polydoros S.
Answer:

Ancient Athens was ruled by means of a direct democracy and ancient Sparta was ruled by means of an oligarchy.

Finance
TutorMe
Question:

How are the three financial statements linked together?

Polydoros S.
Answer:

The income statement will determine the net income of the company or institution. The net income will link both to the balance sheet and the cash flow statement. Regarding the balance sheet, the net income will flow into retained earnings. Retained earnings is equal to the previous period's retained earnings plus net income from the current period less current dividends. Regarding the cash flow statement, net income will be the first line item as it will be used to help calculate cash flows from operations. Any non-cash expenses or non-cash income from the income statement such as depreciation and amortization will flow into the cash flow statement and adjust net income to arrive at cash flow from operations. Any balance sheet items that have a cash impact such as working capital, financing, PP&E are linked to the cash flow statement since it is either a source or use of cash. The net change in cash on the cash flow statement and cash from previous period's balance sheet comprise cash for the current period.

Business
TutorMe
Question:

Name three popular methods of financing your business venture?

Polydoros S.
Answer:

Three popular methods of financing your business venture are internal financing, debt financing, and equity financing.

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