1. Consider the principles , assumptions , and constraints of Generally Accepted Accounting Principles (GAAP)....

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Accounting

1. Consider the principles , assumptions , and constraints of Generally Accepted Accounting Principles (GAAP). Define the revenue recognition principle and explain why it is important to users of financial statements. 2. Provide one specific example of how WorldCom violated the revenue recog- nition principle in this situation . In your description , please identify a journal entry that may have been used by WorldCom to commit the fraud .

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