Telecommunications company, Toronto Ltd, signed a 15-year deal to sell capacity on its cable network to a
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Telecommunications company, Toronto Ltd, signed a 15-year deal to sell capacity on its cable net¬work to a rival company for $200 million. The deal was completed on the last day of Toronto Ltd’s financial year, 30 June. The company received an upfront payment of only $20 million from its competitor on that day, but decided to recognise ‘revenue’ of $200 million for the financial year just completed.
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Accounting
ISBN: 978-1118608227
9th edition
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett
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