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What management assertion would have been false

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Reference no: EM132641278

1. Assume that a company underestimated rebates by $500 million for 2018, and they didn't find out until the following year. Then answer the following:

Question a. What management assertion would have been false, and why?

Question b. What entries should they make, if any, in the 2018 and 2019 financial statements?

Question c. How would your answer change if they actually knew the correct amount before issuing the 2018 financial statements?

Reference no: EM132641278

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