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A company's accounting department has discovered that a vendor has been invoicing them for fake goods for the past year. The total amount of fraudulent
A company's accounting department has discovered that a vendor has been invoicing them for fake goods for the past year. The total amount of fraudulent invoices is $100,000. The company's average profit margin is 20%. If the company had paid the vendor for the fake goods, what would be the impact on their reported net income for the year?
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Managerial Accounting
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
12th Edition
978-0073526706, 9780073526706
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