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Which of the following is true regarding financial statements? A. Recognition relates to a transaction being reported in the financial statements. B. Valuation relates to

Which of the following is true regarding financial statements?

	A.	Recognition relates to a transaction being reported in the financial statements.
	B.	Valuation relates to the dollar (monetary) amounts reported in the financial statements and footnotes.
	C.	The FASB views recognition as superior to disclosure.
	D.	Disclosure relates to information reported in the foonotes.
	E.	All of the above are true

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