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1. Who would you say benefits more when a company prepares accurate and truthful financial statements?

2. Which transaction is the best example of the revenue recognition principle that GAAP explains?

3. The CEO of a transportation company wants to use a large amount of cash for the purchase of additional new trucks and trailers rather than paying bonuses to its employees. The new trucks are more productive than the existing trucks or used trucks. The used trucks have a lower price than the new ones but the new ones have less yearly depreciation because of their longer useful period. Considering that the company president