Question: Recognizing rights and obligations embodied in all executory contracts would eliminate a means of off-balance-sheet financing. How might such an action confuse and possibly mislead

Recognizing rights and obligations embodied in all executory contracts would eliminate a means of off-balance-sheet financing.” How might such an action confuse and possibly mislead financial statement users?

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Executory contracts carry varying amounts of risk For example a firm might back out of a purcha... View full answer

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