Question: Did GE violate the rules for revenue recognition (pre-2016-change) on the sale of its locomotives? Explain.

Did GE violate the rules for revenue recognition (pre-2016-change) on the "sale" of its locomotives? Explain.

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In the case of the locomotives the SEC found that in the fourth quarters of 2002 and 2003 GE had improperly recorded revenue of 223 million and 158 mi... View full answer

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