Which of the following is not true regarding an equity carve-out?
a. It can result in the creation of minority interests.
b. It arises when a combinor sells a portion of its interest in a combinee.
c. It arises when a combinor dilutes its interest through an initial public offering of the subsidiary.
d. The SEC requires resulting carve-out gains to be booked as non-operating income.
e. It can result in the creation of minority interests.
ANSWER: C
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