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QUESTION 7 P Company purchases 87% of the stock of S Company. After the transaction, all of the following are correct except: P has an

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QUESTION 7 P Company purchases 87% of the stock of S Company. After the transaction, all of the following are correct except: P has an Investment in S account in the asset section of its balance sheet. OP has a controlling interest in S. S is a subsidiary of P P has an Investment in S account in the liabilities section of its balance sheet

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