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You are an auditor of Harry Corporation and have been assigned the investments account. The other day you were enquiring about an account fluctuation when

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You are an auditor of Harry Corporation and have been assigned the investments account. The other day you were enquiring about an account fluctuation when the client contact made an off-hand comment to you. They mentioned it was "kind of odd" that the company accounted for debt securities as available for sale (AFS) when they had never known the company to sell any of their debt investments before reaching the maturity date. Describe how management misrepresenting its intent in this way misstates the financial statements. Be sure to address both the balance sheet and income statement implications Edit View Insert Format Tools Table 120 Paragraph BIU AL TV be D

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