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What Amount Should Have Been Reported for the Land on a Consolidated

Question 7

Multiple Choice

What amount should have been reported for the land on a consolidated balance sheet,assuming the investment was obtained prior to SFAS 141(R) and the purchase method,parent company concept,was used?


A) $70,000
B) $75,000
C) $85,000
D) $92,500
E) $100,000

Correct Answer:

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