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Read Accounting Headline 7.12, which discusses the accounting practices used at the Australian company Harris Scarfe. It has been shown that Harris Scarfe reported results

Read Accounting Headline 7.12, which discusses the accounting practices used

at the Australian company Harris Scarfe. It has been shown that Harris Scarfe

reported results that inappropriately overstated its assets and understated its

liabilities. Discuss whether this is consistent with the opportunistic perspective

provided by PAT and explain from a contracting perspective why an

organisation might want to overstate its assets and understate its liabilities.

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