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A key limitation of balance sheets in financial analysis is that: A)
| different balance sheet items may be measured differently. |
| B)
| liquidity and solvency ratios require information from other financial statements. |
| C)
| some items are recognized when they are unlikely to reflect a flow of economic benefits. |
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Balance sheet values may use a mixture of measurement bases (historical cost, fair value, etc.). As a result, balance sheet values of assets, liabilities, and equity may not reflect their intrinsic values. Balance sheets provide the information necessary to calculate the firm’s solvency and liquidity ratios. Items are recognized on the balance sheet only if a flow of future economic benefits to or from the firm is probable. |
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