13_acquisition occurs when one corporation takes over all the operations of another business entity, and that entity is dissolved

Select one:

True

False

14_An entry is necessary to eliminate the full amount of the gain on the sale of land and to reduce the land to its cost basis to the consolidated entity whether the intercompany sale is upstream or downstream

Select one:

True

False

15_Under the equity method of accounting parent-retained earnings and the consolidated-retained earnings are equal.

Select one:

True

False