Question 2: The proposed guidance on the measurement of assets and liabilities,
as well as related items of income and expense, using the liquidation basis of
accounting is intentionally nonprescriptive because of the specialized nature of
liquidation basis fi nancial statements and the many circumstances to which it may
apply. Is the proposed guidance on how to prepare liquidation basis fi nancial statement
suffi cient and operational? If not, please explain why.