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1. How did Nortel allegedly use reserves to manipulate profit? 2. What is accounting for the contingent liabilities problem?

1. How did Nortel allegedly use reserves to manipulate profit?

2. What is accounting for the contingent liabilities problem?

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Answer Explanation 1 i In the final quarter of 2002 Nortel Networks Corp unexpectedly generated a profit of up to 168 million US but the profit was re... blur-text-image

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