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Inconsistent Statements on Accounting Principles, "Financial statements that were developed in accordance with generally accepted...

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Accounting

Inconsistent Statements on Accounting Principles, "Financial statements that were developed in accordance with generally accepted accounting principles should be conservative" Explain by what authority and/or on what basis each item listed can be considered to be fallacious, circular, inconsistent, a half-truth, or an erroneous comment or conclusion. If the statement or a portion of it is merely out of context, indicate the context(s) in which the statement would be correct.

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