In a Situation Where the Net Assets Acquired in the Controlled

question 71

Multiple Choice

In a situation where the net assets acquired in the controlled entity are not recorded at fair value,approaches that may be taken to account for this include:

• A) Adjust the excess or goodwill so that the elimination entry balances.
• B) Revalue the assets in the parent entity's books.
• C) Revalue the assets during the consolidation process each period.
• D) Adjust the depreciation on the assets to bring them to fair value in the consolidated accounts.

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