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Which of the following statements is not correct? Standardized financial statements are useful for comparing financial information year-to-year. Standardized financial statements are useful for comparing

Which of the following statements is not correct?

Standardized financial statements are useful for comparing financial information year-to-year.

Standardized financial statements are useful for comparing companies of different sizes, particularly within the same industry.

In a common-size income statement, all items are the percent of assets.

In a common-size balance sheet, all items are the percent of assets.

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