As you are analyzing the most recent financial statements of Big Oil (B&O) Company, you question is the company properly

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answerhappygod
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As you are analyzing the most recent financial statements of Big Oil (B&O) Company, you question is the company properly

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As you are analyzingthe most recent financial statements of Big Oil(B&O) Company, you question is the company properlyrecorded an economic event. You know that B&O owns andoperates several off-shore oil drilling platforms in the Golf ofMexico. You also recall from news reports that a hurricaneseverely damaged two of the platforms, leading to a significantloss in revenue while the platforms were inactive. While you seeevidence in the financial statements of the damage and repair tothe platforms, you cannot find any evidence of the lost revenue inthe financial statements.
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