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Anna is studying the annual reports of threedifferent

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Anna is studying the annual reports of threedifferent companies that her accounting group will use for its termproject. She sees that two of the companies have made investmentsin the common stock of Ebay, Inc. What concerns her is that on ecompany has reported the investment as a current asset, while theother company has reported its investment as a long-term asset.Explain to Anna why it is permissible in certain circumstances forthe same type of asset to be reported differently.

Reference no: EM13615580

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