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What effect would have of carrying value of the investment

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Reference no: EM132858944

Problem 1: LIM Co did not amortize the discount on its short-term bond investment. What effect would this have of the carrying value of the investment and on net income, respectively?

a. overstated, overstated

b. understated, overstated

c. understated, understated

d. no effect, no effect

Reference no: EM132858944

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