Yes the combination gun can provide interchangeable barrel sets for shotgun, rifle/shotgun combination, or double rifle, but it cannot be expected to be a tack-driving “reach out and touch” long range rifle that delivers sub-MOA groups out past the 200 yard mark.
There is a limit to what one can expect from an “all in one gun” combination however. A double rifle can be a very flexible hunting arm, especially if it comes with additional shotgun barrels and/or combination rifle/shotgun barrels: and the Valmet 412 series were one of the best of the affordable combination guns on the market.
