In a step acquisition, which of the following statements is false?
A. Income from subsidiary is computed for the entire year for a new purchase acquired during the year.
B. Obtaining control through a step acquisition is a significant measurement event.
C. Pre-acquisition earnings are not included in the consolidated income statement.
D. Income from subsidiary is computed by applying a partial year for a new purchase acquired during the year.
E. The acquisition method views a step acquisition essentially the same as a single step acquisition.
Answer: A
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