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Statement I: The balance sheet could provide trend information through multi-annual analysis. Statement II: The balance sheet reveals liquidity of the business (= companys ability

Statement I:

The balance sheet could provide trend information through multi-annual analysis.

Statement II:

The balance sheet reveals liquidity of the business (= companys ability to convert assets into cash).

Both statements are incorrect

Statement 1 is correct; statement 2 is incorrect

Both statements are correct

Statement 1 is incorrect; statement 2 is correct

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