The concept of commercial substance in purchase and sales transactions means that the entity's cash flows are
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- the entity's cash flows are expected to change.
- the transaction is a bona fide purchase and sale, and the entity's cash flows are expected to change.
- the transaction must involve tangible assets.
- the transaction is a bona fide purchase and sale.
Related Book For
Business Law and the Legal Environment
ISBN: 978-1285860381
7th edition
Authors: Susan S. Samuelson, Jeffrey F. Beatty
Posted Date: