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Is the following statement true? An elimination entry is required in preparing consolidated statements subsequent to the combination if an affiliate still holds inventory acquired
Is the following statement true? An elimination entry is required in preparing consolidated statements subsequent to the combination if an affiliate still holds inventory acquired from the parent prior to the business combination as the result of an arm's-length bargaining.
Group of answer choices
yes, if the transaction was arms-length
no, unless the transaction was external
no, if the transaction was arms-length
none of the above
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