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The primary purpose of the statement of financial position is to reflect A. The fair value of the firm’s assets at some moment in time. B. The status of the firm’s assets in case of forced liquidation of the firm. C. The success of a company’s operations for a given amount of time. D. Items of value, debt, and net worth.
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I think the most desired one is D............................................................
The statement of financial position (balance sheet) can be used to show the items of value, debt, and net worth. Assets= Liabilities + Equity
D. Items of value, debt, and net worth.
My opinion "C" as at the end the result is success and you can know the success of company on the specific time.
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