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Question
doctor smith is contemplating the purchase of dr. johnsons practice. frank, his office manager, is about to prepare a worksheet combining the results of both practices so dr. smith can review it. frank has a twelve-month financial statement for dr. smiths office and a nine-month financial statement from dr. johnsons office. which of the following approaches is correct?
a. the nine-month statement should first be annualized
b. consistency over time periods is not necessary, so frank can proceed
c. neither of the above
Answer
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