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The most effective way to use an income statement is to: A. Compare it to income statements for prior periods. B. Examine income statements for

The most effective way to use an income statement is to:

A.

Compare it to income statements for prior periods.

B.

Examine income statements for competitors.

C.

Find industry benchmarks for similar firms.

D.

Look and see how close it matches the forecast or budget.

E.

All answers are correct.

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