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In 2000, WorldCom Company erroneously capitalized $3.8 billion of expenses. The mistake has the effect...

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Finance

In 2000, WorldCom Company erroneously capitalized $3.8 billion of expenses. The mistake has the effect of

  • overstating asset and understating liability by $3.8 billion.

  • understating net book value of assets by $3.8 billion.

  • understating shareholders equity by $3.8 billion.

  • overstating taxable income by $3.8 billion.

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