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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Ilaine who wrote (5665)7/25/2000 1:17:06 PM
From: LLCF  Read Replies (1) of 436258
 
<In the example of the vendor being paid in stock, as you pointed out, "cost of goods sold" is zero, so there is no tax deduction, either, so it's not a free lunch.>

You're highlighting why paying for things in stock should be 'expensed'... clearly "cost of good sold" is not zero therefore all financial statements down the line are comprimised, yet under your arguement that's O.K.?

< Further, the vendor does have to pay cash to the publisher for the books, so someone, somewhere, has to make some
money or the whole thing will collapse>

Of course there is payment! The stock has value! Only in the new economy we can pretend it doesn't according to you and Don Lloyd.

DAK
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