Assume that Morrison Company used cash to acquire machinery expected to contribute to the generation...
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Accounting
Assume that Morrison Company used cash to acquire machinery expected to contribute to the generation of revenues over a three-year period and the company erroneously expensed the cost to acquire the machine.
a. Describe the effects on ROA of the error over the three-year period.
b. Explain how the error would affect the statement of cash flows.
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