On October 1, A company acquired for cash all the outstanding ordinary shares of B company. Both companies have a December 31 year-end and have been in business for many years. Consolidated net income for the year ended December 31 should have a net income of? a. A for 12 months and B for 3 months b.A for 12 months but no income from B c.A for 3 months and B for 3 months d. A for 12 months and B for 12 months
On October 1, A company acquired for cash all the outstanding ordinary shares of B company. Both companies have a December 31 year-end and have been in business for many years. Consolidated net income for the year ended December 31 should have a net income of? a. A for 12 months and B for 3 months b.A for 12 months but no income from B c.A for 3 months and B for 3 months d. A for 12 months and B for 12 months
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On October 1, A company acquired for cash all the outstanding ordinary shares of B company. Both companies have a December 31 year-end and have been in business for many years. Consolidated net income for the year ended December 31 should have a net income of?
a. A for 12 months and B for 3 months
b.A for 12 months but no income from B
c.A for 3 months and B for 3 months
d. A for 12 months and B for 12 months
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