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What information is important to the readers of financial statements? What are the qualitative and quantitative limitations of financial statements? How might we overcome the limitations of financial statements?

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Financial statements is discussed very comprehensively in this explanation.

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What information is important to the readers of financial statements? What are the qualitative and quantitative limitations of financial statements? How might we overcome the limitations of financial statements?

The information that is important to the readers of financial statements is the reports on the firm's ownership, liabilities, and assets. Further, they like to know the performance of the firm with regards to the company's income, ...

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