Question: When the joint operators jointly own certain assets, the accounting becomes a bit more complicated. In addition to accounting for their own assets and liabilities

When the joint operators jointly own certain assets, the accounting becomes a bit more complicated. In addition to accounting for their own assets and liabilities used in the joint operation, they would have to account for their share of the costs and expenses involved with the jointly owned assets. This is a form of consolidation, but on a very limited basis

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