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Why should investors and others be careful in interpreting partial - year reports for companies that use the natural business year for their fiscal year?

Why should investors and others be careful in interpreting partial-year reports for companies that use the natural business year for their fiscal year?
a. The operations of the companies vary significantly throughout the fiscal year.
b. Partial-year reports show only the highest points of a business.
c. Partial-year reports show only the lowest points of a business.
d. These reports are not used for the fiscal year reports.
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