Bausch and Lomb, Inc., the optical products company, reported the following sales and receivables from 1990 to

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Bausch and Lomb, Inc., the optical products company, reported the following sales and receivables from 1990 to 1993 (in millions of dollars):

Subsequently it was discovered that the firm had booked revenues incorrectly, and the SEC investigated. Do the numbers here raise concerns about the quality of the reportedrevenues?

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Financial statements

ISBN: 978-007802531

5th Edition

Authors: Stephen Barrad

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Question Posted: Mar 17, 2012 06:44 AM

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Bausch and Lomb, Inc., the optical products company, reported the following sales and receivables from 1990 to

Question:

1990 1991 1992 1993 Net sales Trade receivables, less aliowances 1.368.6 520 .709. 8722 385.0 203.0 205.3 277.3

Step by Step Answer:

A red flag on the quality of revenues is raised by comparin...View the full answer

Financial statements

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