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Which statements regarding statement of financial position

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Reference no: EM132836675

Problem 1: Which one of the following statements regarding the statement of financial position is false?

Select one:

a. It shows how much the owner has invested in the business.

b. It was formerly known as the balance sheet.

c. It shows the assets and liabilities of a business at a certain point in time.

d. It shows the average assets and liabilities of a business over the last financial period.

Reference no: EM132836675

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