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Which one of the following is violated when a firm reports its long-term debt at the present value of the cash flows associated with that debt?     Matching     No violations occurred. This accounting is correct.     Revenue recognition     Gross value of the debt

Which one of the following is violated when a firm reports its long-term debt at the present value of the cash flows associated with that debt?     Matching     No violations occurred. This accounting is correct.     Revenue recognition     Gross value of the debt

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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QUESTION 41

  1. Which one of the following is violated when a firm reports its long-term debt at the present value of the cash flows associated with that debt?

       

    Matching
       

    No violations occurred. This accounting is correct.
       

    Revenue recognition
       

    Gross value of the debt
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