Select the three primary advantages of the statement of financial position. (Select all that apply.) A. All of the accounts on the balance sheet are reported at historical cost, as opposed to market values or liquidation values. B. Many assets and liabilities are irrelevant and are not reported on the balance sheet. C. Many of the accounts reported on the balance sheet are based on estimates as opposed to determinable amounts. D. The balance sheet, in conjunction with the income statement, is useful in assessing the rate of return that an entity is generating on its investments E. The balance sheet summarizes the economic resources and obligations that impact the entity's ability to generate future cash flows. F. The balance sheet aids in assessment of the riskiness of the entity in that it can be used to measure liquidity, solvency, and financial flexibility. Select the three primary advantages of the statement of financial position. (Select all that apply.) A. All of the accounts on the balance sheet are reported at historical cost, as opposed to market values or liquidation values. B. Many assets and liabilities are irrelevant and are not reported on the balance sheet. C. Many of the accounts reported on the balance sheet are based on estimates as opposed to determinable amounts. D. The balance sheet, in conjunction with the income statement, is useful in assessing the rate of return that an entity is generating on its investments E. The balance sheet summarizes the economic resources and obligations that impact the entity's ability to generate future cash flows. F. The balance sheet aids in assessment of the riskiness of the entity in that it can be used to measure liquidity, solvency, and financial flexibility