People’s beliefs about the Bible vary widely. Some believe that the Bible is absolutely perfect, without error, and that it is all we need to be saved. Others think the Bible is literature worth studying, but they deny that it is evidence of Christ’s divinity and miracles or direct revelation from God. Some choose to ignore the Bible, and others have never seen the Bible or had a chance to read it.
Latter-day Saints “believe the Bible to be the word of God as far as it is translated correctly” (Articles of Faith 1:8). Far from competing with the Bible, the Book of Mormon supports it, exhorts us to read it, and testifies of the truthfulness of its message. You should use the Book of Mormon and the Bible to support one another.
The Book of Mormon speaks of the ancient covenants God made with His children; the Bible tells of great prophets who also received these covenants by faith. The Book of Mormon testifies of Christ and His Atonement; the Bible provides the account of His birth, ministry, death, Atonement, and Resurrection. Thus, the Bible and Book of Mormon complement and enrich each other.
–Preach My Gospel