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When one member of a consolidated group purchases only part of the outstanding bonds of another member of the group (for example, 80% of the
When one member of a consolidated group purchases only part of the outstanding bonds of another member of the group (for example, 80% of the bonds), a. all bonds, and all the interest expense and interest revenue applicable to the bonds should be eliminated. b. none of the bonds, and none of the interest expense and interest revenue applicable to the bonds should be eliminated. c. 20% of the bonds, and 20% the interest expense and interest revenue applicable to the bonds should be eliminated. d. 80% of the bonds, and 80% the interest expense and interest revenue applicable to the bonds should be eliminated
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