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a. d 20. Following U.S. GAAP, a company consolidates its majority-owned subsidiary unless: Control is temporary b. The subsid
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20)

Answer - ( A ) control is temporaray

Following U.S. GAAP, a company consolidates its majority-owned subsidiary unless the Control is temporary

21)

Answer - ( D )

At their fair values at the date it is established that ABC is the primary beneficiary of XYZ, if ABC and XYZ are not already under common control

ABC has a financial relationship with XYZ and must include XYZ's assets and liabilities on its balance sheet. The consolidation process values XYZ's assets and liabilities at their fair values at the date it is established that ABC is the primary beneficiary of XYZ, if ABC and XYZ are not already under common control

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