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Pharoah Companypurchased land in 2013 for $284000. In 2022, it purchased a nearly identical parcel of land for $473000. In its 2022 balance sheet,Pharoahvalued these

Pharoah Companypurchased land in 2013 for $284000. In 2022, it purchased a nearly identical parcel of land for $473000. In its 2022 balance sheet,Pharoahvalued these two parcels of land at a combined value of $929000. By reporting the land in this manner,Pharoah Co.has violated the

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