Question: Please explain the following statement: Unfortunately , there are mazelike interferences in financial statement data that hinder understanding the valuable information they contain. Define internal

Please explain the following statement:

Unfortunately

,

there are mazelike interferences in financial statement data that hinder understanding the valuable information they contain.

Define internal and external sources of liquidity. What is a material deficiency in liquidity? If a firm has a material deficiency in liquidity what should be reported in the management discussion and analysis?

What types of information may be missing or hard to find in the financial statements?

Explain why the characteristics of comparability and consistency are important in financial reporting?

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