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Unformatted text preview: highly rated financial institutions and in very short-term securities,
and the Company’s debt securities are principally comprised of U.S. dollar denominated notes
which are issued and guaranteed as to principal and interest by the Brazilian government. An
allowance for doubtful accounts is established to the extent the Company’s trade receivables
are estimated not to be fully collectible.
The Company's pulp sales are made substantially to the paper industry; consequently, its
performance is dependent upon that industry's worldwide demand for pulp and the related
supply, as well as fluctuations in the market price for pulp which can be significant. 13 Aracruz Celulose S.A.
Notes to Consolidated Financial Statements
Expressed in thousands of United States dollars
(unless otherwise stated) (e) Inventories
Inventories are stated at the lower of the average cost of purchase or production, and
replacement or realizable values. Cost is determined principally on the average-cost method. (f) Investments in af...
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This note was uploaded on 02/05/2014 for the course ECON 101 taught by Professor Gottlieb during the Spring '08 term at Rutgers.
- Spring '08