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1.

On consolidated financial statements, where does the subsidiary's accumulated other comprehensive income balance appear?

Select one:

A. Doesn't appear on the consolidated financial statements

B. On the consolidated statement of comprehensive income

C. On the consolidated balance sheet, as an equity account

D. On the consolidated balance sheet, as an asset account

2.

On consolidated financial statements, where does the parent's equity in the net income of the subsidiary account appear?

Select one:

A. Doesn't appear on the consolidated financial statements

B. On the consolidated income statement, as a revenue

C. On the consolidated income statement, as an deduction from income

D. On the consolidated balance sheet, as an equity

3.

2.

Which statement is true regarding the U.S. GAAP impairment test for limited life intangibles?

Select one:

A. Even if the fair value of the intangible is less than its book value, it is possible that no impairment loss will be reported.

B. The impairment loss is calculated as the difference between fair value and original cost.

C. No impairment testing is necessary if it is more likely than not that the intangibles are not impaired.

D. Impairment loss always equals the difference between book and fair value of the intangibles, if book value exceeds fair value.

On consolidated financial statements, where does the subsidiary's accumulated other comprehensive income balance appear? Select one: O A. Doesn't appear on the consolidated financial statements o B. On the consolidated statement of comprehensive income C. On the consolidated balance sheet, as an equity account * o D. On the consolidated balance sheet, as an asset account Which statement is true regarding the U.S. GAAP impairment test for limited life intangibles? Select one: o A. Even if the fair value of the intangible is less than its book value, it is possible that no impairment loss will be reported. O B. The impairment loss is calculated as the difference between fair value and original cost. C. No impairment testing is necessary if it is more likely than not that the intangibles are not impaired. * o D. Impairment loss always equals the difference between book and fair value of the intangibles, if book value exceeds fair value. On consolidated financial statements, where does the parent's equity in the net income of the subsidiary account appear? Select one: O A. Doesn't appear on the consolidated financial statements o B. On the consolidated income statement, as a revenue o C. On the consolidated income statement, as an deduction from income o D. On the consolidated balance sheet, as an equity X

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