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When a subsidiary is acquired sometime after the first day of the fiscal year, which of the following statements is true? A.Income from subsidiary is
- When a subsidiary is acquired sometime after the first day of the fiscal year, which of the following statements is true?
- A.Income from subsidiary is not recognized until there is an entire year of consolidated operations
- B.Income from subsidiary is recognized from date of acquisition to year-end
- C.Excess cost over acquisition value is recognized at the beginning of the fiscal year
- D.No goodwill can be recognized
- E.Income from subsidiary is recognized for the entire year
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