Accounting versus Tax Treatment (Appendix-related) Pineco plans to embark on a business acqui sition program to diversify

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Accounting versus Tax Treatment (Appendix-related) Pineco plans to embark on a business acqui¬

sition program to diversify its product lines. The controller is unclear about whether the tax treat¬

ment determines the accounting treatment or whether the accounting treatment determines the tax treatment.

Required How would you advise the controller?

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