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Which of the following are true of the excess value reclassification entry? Multiple select question. The entry, along with the basic consolidation entry, will fully
Which of the following are true of the excess value reclassification entry? Multiple select question. The entry, along with the basic consolidation entry, will fully eliminate the investment account. The entry will calculate the acquisition value of the investment using appraisal values. The entry will adjust asset accounts to reflect their fair values as of the acquisition date. The entry assigns the differential amount to accounts that were over or undervalued as of the acquisition date.
Which of the following are true of the excess value reclassification entry?
Multiple select question.
The entry, along with the basic consolidation entry, will fully eliminate the investment account.
The entry will calculate the acquisition value of the investment using appraisal values.
The entry will adjust asset accounts to reflect their fair values as of the acquisition date.
The entry assigns the differential amount to accounts that were over or undervalued as of the acquisition date.
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Auditing and Assurance services an integrated approach
Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley
15th edition
978-0133125634, 9780133423815, 133125637, 133423816, 978-0133125689
