If the financial statements are to be understandable to users, they must be prepared in a very
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“If the financial statements are to be understandable to users, they must be prepared in a very clear and simple manner for the benefit of those who are less sophisticated.” Is this true? Explain.
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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The statement is not true Accounting measures complex economic phenomona and the ...View the full answer
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Related Book For 
Intermediate Accounting
ISBN: 978-0071339476
Volume 1, 6th Edition
Authors: Beechy Thomas, Conrod Joan, Farrell Elizabeth, McLeod Dick I
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