ACC 401 WEEK 3 QUIZ
ACC 401 Week 3 Quiz,
ACC 401 Week 3 Quiz - Strayer
ACC 401 Week 3 Quiz - Strayer
Chapter 3
Consolidated Financial Statements—Date of Acquisition
Multiple Choice
1. A majority-owned subsidiary that is in legal reorganization should normally be accounted for using
a. consolidated financial statements.
b. the equity method.
c. the market value method.
d. the cost method.
2. Under the acquisition method, indirect costs relating to acquisitions should be
a. included in the investment cost.
b. expensed as incurred.
c. deducted from other contributed capital.
d. none of these.
3. Eliminating entries are made to cancel the effects of intercompany transactions and are made on the
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