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What are limitations of statement of financial position

Response to the following in 400-500 word:

What are the major limitations of a statement of financial position as a source of information for users of general purpose financial statements? Discuss at least three limitations.

Support your answer using a minimum of two professional or academic sources.

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Accounting Basics: What are limitations of statement of financial position

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Accounting Basics: What are limitations of statement of financial position

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