In a situation where the net assets acquired in the controlled entity are not recorded at fair value,approaches that may be taken to account for this include:
A) Adjust the excess or goodwill so that the elimination entry balances.
B) Revalue the assets in the parent entity's books.
C) Revalue the assets during the consolidation process each period.
D) Adjust the depreciation on the assets to bring them to fair value in the consolidated accounts.

Question

Quizplus · Accepted Answer

The Answer of In a situation where the net assets acquired in the controlled entity are not recorded at fair value,approaches that may be taken to account for this include:
A) Adjust the excess or goodwill so that the elimination entry balances.
B) Revalue the assets in the parent entity's books.
C) Revalue the assets during the consolidation process each period.
D) Adjust the depreciation on the assets to bring them to fair value in the consolidated accounts.

In a Situation Where the Net Assets Acquired in the Controlled