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This form is an Asset Purchase Agreement. The seller agrees to sell to the buyer certain assets which are listed in the agreement. The form also provides that the buyer will not be responsible for any unfilled orders from the customers of the seller.
The net amount of GST recoverable from, or payable to, the ATO is included as a current asset or liability in the Balance Sheet. Payables consists of: Contractual payables include items such as accrued expenses.
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