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Bloomberg: Wal-Mart's Accounting Overstated China Business

Wal-Mart has been using questionable accounting and unauthorized sales practices to make its retail business in China appear stronger, Bloomberg reported, citing internal documents and interviews with employees. The sales practices, which include bulk sales to other retailers and sales being allegedly booked when no merchandise left the shelves, made business appear strong even as retail transactions slowed and unsold inventory piled up, Bloomberg reported. Representatives at Wal-Mart...

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