In some cases, the buyer may have the option of purchasing the assets only, rather than the business as a whole. When a business is purchased as a total entity, the buyer takes control of the assets but also assumes any outstanding debt, including any hidden or unknown liabilities. Even if the financial records are audited, such debts may not surface. If the buyer instead purchases only the assets, then the seller is responsible for settling any outstanding debts previously incurred. An indemnification clause in the sales contract may serve a similar function, protecting the buyer from liability for unreported debt.