In a Business Combination Resulting in a Parent Company-Subsidiary Relationship

In a business combination resulting in a parent company-subsidiary relationship, differences between current fair values and carrying amounts of the subsidiary's identifiable net assets on the date of the combination are:

A) Disregarded
B) Entered in the accounting records of the subsidiary
C) Accounted for in appropriately titled ledger accounts in the parent company's accounting records
D) Provided in a working paper elimination
E) Accounted for in some other manner