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Do you believe Deloitte & Touche should have approved Livents decision to record the $12.5 million naming rights payment as revenue during the third quarter

Do you believe Deloitte & Touche should have approved Livents decision to record the $12.5 million naming rights payment as revenue during the third quarter of 1997? Defend your answer. What broad accounting concepts should be considered in determining the proper accounting treatment for such transactions?

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