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When acquiring a business, typically all of the assets and liabilities will be acquired, even those off-balance sheets. Consider operating leases. This is a legal
When acquiring a business, typically all of the assets and liabilities will be acquired, even those off-balance sheets. Consider operating leases. This is a legal liability that currently is not reflected on a balance sheet. How is this accounted for upon acquisition and for consolidation? Consider ASC Codification 805-20 through 25 in your response. Use citations as appropriate.
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