Question

What is the rule for reporting the revenues and expenses of a company that is acquired partway through a fiscal year in the consolidated income statement?
A. No revenues and expenses for the subsidiary get reported in consolidation at all
B. All the revenues and expenses for the subsidiary, including both before and after the acquisition date, are included in consolidated income.
C. Only the revenues and expenses for the subsidiary that occur after the acquisition date are reported in consolidated income
D. The acquiror has the option of any of the methods in a, b, or cabove

Answer 1

Answer:

D

Explanation:

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