EXPLAIN and show how the following transactions would be reported in the financial statements The...

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Accounting

EXPLAIN and show how the following transactions would be reported in the financial statements

The director of GM cannot understand the non-current assets held for sale and liabilities directly associated with non-current assets held for sale sections. Please explain the meaning and accounting treatment of a non-current asset held for sale. Please also explain how there can be liabilities directly associated with non-current assets held for sale.

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