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Which of these sentences is generally false about accounting financial statements for typical large public firms? a- Balance sheets can omit valuable assets acquired without
Which of these sentences is generally false about accounting financial statements for typical large public firms?
a- Balance sheets can omit valuable assets acquired without measurable cost. |
b- | Balance sheet values do not necessarily reflect true market values. |
c- | Revenues and costs shown on the income statement do not necessarily reflect when cash is actually received or paid by the firm. |
d- | Shareholder's equity on the balance sheet incorporates potential profits from future investment opportunities. |
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