Company Inc. owns all of the outstanding voting shares of Firm Inc. On January 1st, 2017, Firm Inc. would like to purchase all of the voting shares of its main competitor, N-CORP Inc. Briefly discuss the purported accounting implications of this transaction.
What will be an ideal response?
Given that Firm Inc is a wholly owned subsidiary of Company Inc, its acquisition of N-CORP would have
to meet with Company Inc.'s approval. In effect, any shares of N-CORP acquired by Firm Inc. would be
controlled by Company Inc. Such a purchase would constitute a Business Combination, and Company Inc.
would have to prepare consolidated financial statements including both Firm Inc. and N-CORP.
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A) trying to influence an individual's attitude—how he or she thinks on a given topic B) tracking public opinion C) burning incense to the unknown god of public opinion D) detecting vulnerabilities of culture driven by media, fueled by the Internet and dominated by a celebrity
Color associations are ______________________
a. always consistent b. not universal c. irrelevant d. easily identified
Which of the following is not a reason why companies in an industry would establish an industry consortium?
a. Establish industry standards b. Influence government regulation. c. Develop metrics for assessing the degree to which products are environmentally friendly. d. Learn about competitors' technologies. e. All are reasons why companies in an industry would establish a consortium.
People of the United States are comfortable with touching strangers in public places
Indicate whether the statement is true or false.