In Years Subsequent to the Year One Member of a Consolidated

question 44

Multiple Choice

In years subsequent to the year one member of a consolidated group purchases another member's outstanding bonds from outside parties, Consolidated Income Statements:​

• A)​recognize a prorated share of any gain or loss from intercompany bonds.
• B)​recognize a prorated share of any gain but would not show a share of a loss from intercompany bonds.
• C)​recognize a prorated share of any loss but would not show a share of a gain from intercompany bonds.
• D)​would not recognize any gain or loss from intercompany bonds.

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Definitions:

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