Suppose that you have been asked by your employer to evaluate the potential purchase of another company.

Question:

Suppose that you have been asked by your employer to evaluate the potential purchase of another company. The company has been in the chemical business for more than 60 years and has production and facilities in Alberta, Ontario, Texas, and Mexico. Because of the nature of the chemical industry, the company must recognize the possibility of environmental problems related to the manufacture and transportation of its products.
Required:
a. Explain how this issue might affect your evaluation of the potential purchase.
b. Describe the disclosures that you might find in the company's related to environmental liabilities, and what additional information you would like to have in assessing its liabilities.
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