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7. Which one of the folllowing is true regarding the market value method of converting bonds into common stock? A. Equity accounts are added at

7. Which one of the folllowing is true regarding the market value method of converting bonds into common stock?

A. Equity accounts are added at their FMV.

B. No gain or loss is recorded on the conversion.

C. Equity accounts are added at book value.

D. Debt accounts are removed at FMV

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