Tutor profile: Abhenav K.
Subject: Linear Programming
What is the purpose of Linear Programming?
It helps us figure out the optimal solutions (say maximizing profit) to problems that we might face as every resource (say time, labor, capital) is limited which put a constraint on what we can achieve. It is a very realistic and logical way of converting our constraints into mathematical equations and then solving them.
What is the purpose of Algebra?
How to figure out something you do not see obviously present by manipulating what information is actually available, in a fun way!
How do Cash Flow Statement & Income Statement differ for a same period of time?
Cash flow statement -> Records cash payments and receipts that happen during that period. Does not matter when they were incurred. Income Statement -> Record of revenues and expenses that a business incurs, doesn't matter when they are paid. Can have non-cash items as well, like depreciation & amortization. e.g. Say raw material is purchased in January (& fully consumed in that month itself), and money is paid in February The income statement for January: The raw material purchased amount goes to income statement under the cost of goods sold. Cash flow statement for January: No entry. The income statement for February: No entry, Cash flow statement for February: Amount of raw material purchased.
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