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1. Net operating revenue at a state university should always be a negative figure. True or False? Why? 2. It may be assumed that accounting

1. Net operating revenue at a state university should always be a negative figure. True or False? Why?

2. It may be assumed that accounting information has no usefulness to investors because many individual stockholders do not read annual reports. True or False? Why?

3. Accounting-based ratios have not been very useful in discriminating between firms that subsequently went bankrupt and those that did not. True or False? Why?

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