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In the Measurement of Minority Interest in Net Income of a Partially

Question 27

Multiple Choice

In the measurement of minority interest in net income of a partially owned subsidiary, the credit for Depreciation Expense-Parent in the working paper elimination (in journal entry format) for intercompany gain in a depreciable plant asset is attributed to net income of:


A) The parent company
B) The subsidiary
C) The consolidated entity
D) None of the foregoing

Correct Answer:

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