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Author Question: Which of the following is true of financial statements? A) They represent historical data. B) ... (Read 75 times)

clippers!

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on: Jul 6, 2018
Which of the following is true of financial statements?
 
  A) They represent historical data.
  B) They are prepared for management purposes.
  C) They represent future estimates of the firm.
  D) They provide a reasonable level of assurance to their users.

Question 2

The general ledger shows a complete record of the transactions recorded in each individual account.
 a. True
   b. False
   Indicate whether the statement is true or false


nguyenhoanhat

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Reply #1 on: Jul 6, 2018
Answer to Question 1

A
Explanation: A) Financial statements represent historical data.

Answer to Question 2

True


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