Sya Ltd Acquired All the Assets and Liabilities of Littman Ltd

question 31

Multiple Choice

Sya Ltd. acquired all the assets and liabilities of Littman Ltd. by issuing common shares to Littman. After this transaction, Littman owned 30% of Sya's outstanding shares. Which of the following statements is true?

• A)Littman Ltd. ceases to exist.
• B)Littman must record its receipt of Sya shares using the equity method.
• C)Sya must prepare single-entity and consolidated financial statements.
• D)Sya should not treat this transaction as an intercorporate investment.

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Definitions:

Epigenetic Changes

Modifications to the genome that affect gene activity without altering the DNA sequence, often influenced by environmental factors.

Gene Expression

The process by which information from a gene is used to synthesize functional gene products, such as proteins, influencing an organism's traits.

Evolutionary Psychologists

Researchers who study the psychological adaptations of humans to the changing physical and social environment, particularly from an evolutionary perspective.

Specialized Modules

Distinct brain regions or mechanisms evolved to handle specific types of information or tasks.