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What are some of the limitations of the income statement

Assignment:

Please help with the following problems.

Some people feel that the income statement is more important than the balance sheet. Do you agree? Why or why not? What are some of the limitations of the balance sheet in evaluating a company's growth potential? What are some of the limitations of the income statement?

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Accounting Basics: What are some of the limitations of the income statement

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Accounting Basics: What are some of the limitations of the income statement

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