The following news report appeared in the financial press:
The Bulgarian national airline Balkan is to be placed in liquidation after its creditors today rejected a reorganization plan, legal administrators for the carrier said. With debts of € 92 million to 2,200 creditors, Balkan began bankruptcy procedures in March. Creditors today rejected a restructuring for the airline and insisted on the sale of its assets to pay off its debts.
Explain how the measurements used in the financial statements of Balkan would differ from those used in a similar airline that had not been placed in liquidation.

  • CreatedFebruary 20, 2015
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