FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
Statement 1: An intercompany sale will affect the consolidated net income the same
way regardless if it was an
upstream or a downstream sale
Statement 2: An intercompany sale will affect the non-controlling interest’s share in
the net income of the
subsidiary the same way regardless if it was an upstream or a downstream sale
A.Only statement 2 is true
B.Both True
C.Only statement 1 is true
D.Both False
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