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QUESTION 14 Major buys 90% of Little, and has control. What amounts will be shown in the consolidated balance sheet at the acquisition date for

QUESTION 14

  1. Major buys 90% of Little, and has control. What amounts will be shown in the consolidated balance sheet at the acquisition date for Littles assets and liabilities?

    a.

    100% of their book values

    b.

    100% of their fair values

    c.

    90% of the book value

    d.

    90% of the fair value

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