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the recent emphasis on capital maintenece concepts implies that the balancesheet measurements should determine measure of income.

the recent emphasis on capital maintenece concepts implies that the balancesheet measurements should determine measure of income. that is the accrual accounting is to focus on measurements in the balance sheet, and because financial statements are articulated , measurements in the income statement are residual in nature. do you think that the balance sheet is more important than the income statement. explain.

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