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Which of the following statements is CORRECT? Select one a. The statement of cash flows tells us how much cash the firm has in the

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Which of the following statements is CORRECT? Select one a. The statement of cash flows tells us how much cash the firm has in the form of currency and demand deposits b. The balance sheet gives us a picture of the firm's financial situation over a period of time, c. If a firm follows generally accepted accounting principles (GAAP), then its reported net income will be identical to its reported net cash flow. d. Because companies are required to follow GAAP, two firms in exactly the same operating situation will have exactly the same financial statement e. For most companies, the market value of the stock differs from the book value of the stock as reported on the balance sheet

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