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Which of the following statements about the balance sheet are true? 1. The balance sheet conveys information about profitability II. Balance sheet classifications separate operating

Which of the following statements about the balance sheet are true? 1. The balance sheet conveys information about profitability II. Balance sheet classifications separate operating and non- operating assets III. Current and non-current classifications aid in assessing liquidity O II and III o I only O I and III O ll only O III only

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