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QUESTION 3 Before making adjustments (Elimination Entries) on the consolidation worksheet goodwill needs to be recognized on the parent's books when a parent uses the

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QUESTION 3 Before making adjustments (Elimination Entries) on the consolidation worksheet goodwill needs to be recognized on the parent's books when a parent uses the initial value (cost) method throughout the year to account for its investment in an acquired subsidiary. True False

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