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Detecting Accounting Fraud 1st Edition by Cecil Jackson
Edition 1ISBN: 978-0133078602Detecting Accounting Fraud 1st Edition by Cecil Jackson
Edition 1ISBN: 978-0133078602 Exercise 35
WorldCom improperly accounted for its line cost expense by: (a) Allocating line-cost expense to PPE in its first recording of the line-cost transactions.
(b) Initially properly debiting the line-cost expense to an expense account and later transferring the expense to PPE.
(c) Misclassifying part of its line-cost expense as goodwill.
(d) Adding its line-cost expense to inventory to reduce cost of goods sold.
(b) Initially properly debiting the line-cost expense to an expense account and later transferring the expense to PPE.
(c) Misclassifying part of its line-cost expense as goodwill.
(d) Adding its line-cost expense to inventory to reduce cost of goods sold.
Explanation
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Company W used two schemes to overstate ...
Detecting Accounting Fraud 1st Edition by Cecil Jackson
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