Question
Prior to 2008, CBS Corp. owned approximately 18% of Westwood One, Inc. which managed the CBS Radio Network. CBS, in turn, managed Westwood under a
Prior to 2008, CBS Corp. owned approximately 18% of Westwood One, Inc. which managed the CBS Radio Network. CBS, in turn, managed Westwood under a management agreement. Further, one employee of CBS was a member of Westwoods board of directors. CBS did not control the board of directors, however. In this situation, how should CBS account for its investment in Westwood One?
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Managerial Accounting A Focus on Ethical Decision Making
Authors: Steve Jackson, Roby Sawyers, Greg Jenkins
5th edition
324663854, 978-0324663853
