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Question : If Pizza Co. had instead purchased Submarine through a "Stock

If Pizza Co. had instead purchased Submarine through a "Stock Acquisition" (purchased 100% of Submarine Stock) the journal entry to record the stock acquisition would be as follows: True False (Stock Acquisition) The current method of accounting for a stock acquisition is more aligned with Parent Company Concept versus the Economic Unit Concept. True False (Stock Acquisition) No controlling interest represents the equity position of the subsidiary shareholders who continue to hold stock (did not sell their ownership) in the subsidiary. True False

 

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