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Question 3: I a) What is the 'recognition issue' in financial reporting? (5 marks) b) The energy and commodities company Enron aggressively used 'Mark-to-market'

Question 3: I a) What is the 'recognition issue' in financial reporting? (5 marks) b) The energy and commodities company Enron aggressively used 'Mark-to-market' accounting policies. Research this aspect that contributed to Enron's fall in the decade to 2007 and explain why it was a recognition issue. Comment on whether the recognition issue in this case was inadvertent. (25 marks)

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