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Technology Stocks : America On-Line: will it survive ...?
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To: Robert Hecht who wrote (1714)2/13/1997 12:55:00 PM
From: Todd Daniels   of 13594
 
I love this one.

from 2/13 NY Times article quoting AOL CFO in defense of
`apparent' deteriorating financial position and widening gap
between assets and liabilities:

And another addition to liabilities, he added, results from
all the people who took up the company's offer December to
prepay for a year's worth of service at a discounted monthly
rate. In accounting terms, the undelivered service is a
liability.

Yeah, but CASH *asset* increases by same amount.
That's why they call it a balance sheet!
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