One of the biggest surprises in the chapter was about Facebook's origin. I was unaware that it was created through hacking into Harvard's secure database. I had previously read about this subject, however, I had never realized how brilliant and surprising this really was.
I was very confused on the section on financial statements and their functions in various organization. I think further expansion on this would be helpful.
My two questions would be as follows:
Does less strategic planning lead to more startup failures or is this not the primary reason?
Why do companies allow uncollectible accounts?
I did not disagree with anything in the chapter, but I don't really consider liabilities as debts of the business. I think that these are necessary, regardless of the definition of this term.
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