One of the limitations of the balance sheet is that the, Financial Management

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One of the limitations of the balance sheet is that the

1. One of the limitations of the balance sheet is that the dollar amounts for different assets reflect different levels of inflation. That is the result of the ________ assumption.

recognition

matching

stable monetary unit

conservatism

2. Information is relevant if it has ________ and ________.

verifiability; comparability

timeliness; materiality

predictive value; confirmatory value

reliability; feedback value

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