What are the two major categories of long-term assets

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Question: 1. WorldCom committed the largest fraud in U.S. history. What was the primary method WorldCom's management used to carry out the fraud?

2. What are the two major categories of long-term assets? How do these two categories differ?

3. Explain how we initially record a long-term asset.

4. If University Hero initially records an expense incorrectly as an asset, how does this mistake affect the income statement and the balance sheet?

Reference no: EM131521117

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