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finanicail Accounting If management intends to liquidate the.4 entity's operations, financial statements are prepared on the basis of (1) (1 ) Historical cost Historical cost

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finanicail Accounting

If management intends to liquidate the.4 entity's operations, financial statements are prepared on the basis of (1) (1 ) Historical cost Historical cost with a note that the entity is about to liquidate Expected liquidation values Financial statements do not have to .be prepared

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