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Liquidation basis accounting
Assets should be measured and presented at the amount of expected cash proceeds from liquidation
F/S following the Liquidation basis accounting will show:
Required that a company accrue and present (non-discounted) costs it expects to incur (both during and at the end of the liquidation process) and income it expects to earn during the liquidation process
Disclosures shown in presentation of F/S under liquidation basis of accounting
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