If new bonds are issued from a parent to its subsidiary, which of the following...
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Accounting
If new bonds are issued from a parent to its subsidiary, which of the following statements is false? Multiple Choice Interest expense needs to be eliminated on the consolidated income statement Any premium or discount on bonds payable is exactly offset by a premium or discount on bond investment Interest revenue needs to be eliminated on the consolidated income statement A net gain or loss on the bond transaction will be reported. There will be $ net gain or loss on the bond transaction. 
If new bonds are issued from a parent to its subsidiary, which of the following statements is false?
Multiple Choice
Interest expense needs to be eliminated on the consolidated income statement
Any premium or discount on bonds payable is exactly offset by a premium or discount on bond investment
Interest revenue needs to be eliminated on the consolidated income statement
A net gain or loss on the bond transaction will be reported.
There will be $ net gain or loss on the bond transaction.
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