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Assume that Exclusive Gifts (Pty) Ltd was declared bankrupt in January 2023 (in other words it does not qualify as a going concern and has

Assume that Exclusive Gifts (Pty) Ltd was declared bankrupt in January 2023 (in other words it does not qualify as a going concern and has to be liquidated in January 2023). The Conceptual Framework specifies that the special measurement basis of the assets and liabilities must be used in these circumstances. Explain, in words, how the assets and liabilities will be measured based on the break-up valuation method

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