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QUESTION 7 Comparative financial statements compare the company's current statements with: Those of prior periods for the same company. Those of other companies in the
QUESTION 7 Comparative financial statements compare the company's current statements with: Those of prior periods for the same company. Those of other companies in the same industry. Those of the company's principal competitor The budgeted/forecasted level of performance for the period. QUESTION 4 The principal purpose of a statement of cash flows is to measure the profitability of a business that does most of its business on a cash basis True False
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