FASB Statement No. 49 requires that a company selling inventory and agreeing to repurchase it later neither

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FASB Statement No. 49 requires that a company selling inventory and agreeing to repurchase it later neither record the transaction as a sale nor remove the inventory from the balance sheet. If so, does a new current liability arise? How is its amount measured?

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Intermediate Accounting

ISBN: 978-0324300987

10th Edition

Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones

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