Balance Sheets and Profit and Loss Statements

Annotation

Whilst the greatest effort has been made to ensure the quality of this text, due to the historical nature of this content, in some rare cases there may be minor issues with legibility. Good judgment on any question consists in securing all relevant information about it, and assigning correct weight to each fact. A business executive can have no confidence, therefore, in a judgment based on partial or unreliable data. The first requisite for making good decisions is a trustworthy method of ascertaining facts and of bringing them before those who must decide. In the smaller busi ness the chief executive finds most of the necessary data easily accessible, but as the business grows larger and more complex, it becomes at the same time more diffit to get full information and more dangerous to do without it.