Question 1 The price paid by the parent to acquire the subsidiary may exceed the book value of the subsidiary's net assets because O The subsidiary has unrecorded intangible assets O None of these reasons is correct Both of these reasons are correct The fair values of the subsidiary's assets exceed their book values Question 2 A gain on acquisition of the subsidiary. O is recorded for both the parent and non-controlling interest O None of these statements is correct. is recorded for the parent always and can be recorded for the non-controlling interest in certain cases O can be recorded only when the parent acquires 100% of the subsidiary (i.e., when there is no non-controlling interest)