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One of the well known soccer clubs in britain,Liverchester,has made a decision to include its players on the clubs statement of financial position as assets. These players are signed to the club every 3 years and are paid large amounts of money by the club each year under various contracts. The club also insists on a transfer fee being paid if a player wishes to go to another club while under contract
Required:
Problem 1: Discuss whether the Livechester club is justified in its action of treating players as asset, by reference to appropriate regulations
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