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TEST BANK For Advanced Financial Accounting 13th Edition By Theodore Christensen| Verified Chapter's 1 - 20 | Complete $17.99
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TEST BANK For Advanced Financial Accounting 13th Edition By Theodore Christensen| Verified Chapter's 1 - 20 | Complete

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  • Advanced Financial Accounting, 13th Edition
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  • Advanced Financial Accounting, 13th Edition

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  • January 12, 2025
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  • Advanced Financial Accounting, 13th Edition
  • Advanced Financial Accounting, 13th Edition
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SOLUTIONS TEST BANK FOR
uo uo uo


Advanced Financial Accounting 13th Edition By Theodore Christensen
uo uo uo uo uo uo uo




Chapter uo1 Intercorporate uoAcquisitions uoand uoInvestments uoin uoOther uoEntities

1) Assuming uono uoimpairment uoin uovalue uoprior uoto uotransfer, uoassets uotransferred uoby uoa uoparent
uocompany uoto uoanother uoentity uoit uohas uocreated uoshould uobe uorecorded uoby uothe uonewly uocreated

uoentity uoat uothe uoassets':

A) cost uoto uothe uoparent uocompany.
B) book uovalue uoon uothe uoparent uocompany's uobooks uoat uothe uodate uoof uotransfer.
C) fair uovalue uoat uothe uodate uoof uotransfer.
D) fair uovalue uoof uoconsideration uoexchanged uoby uothe uonewly uocreated uoentity.

Answer: u o B
uoDifficulty: uo1 uoEasy

Topic: u o Internal uoExpansion: uoCreating uoa uoBusiness uoEntity; uoValuation uoof uoBusiness
uoEntities uoLearning uoObjective: 01-01 uoUnderstand uoand uoexplain uothe uoreasons uofor uoand
uodifferent uomethods uoof uobusiness uoexpansion, uothe uotypes uoof uoorganizational uostructures, uoand uothe

uotypes uoof uoacquisitions.; uo01-03 uoMake uocalculations uoand uoprepare uojournal uoentries uofor uothe

uocreation uoof uoa uobusiness uoentity.

Bloom's: Remember
u o AACSB: uoReflective

uoThinking uoAICPA: FN
uoDecision uoMaking




2) Given uothe uoincreased uodevelopment uoof uocomplex uobusiness uostructures, uowhich uoof uothe
uofollowing uoregulators uois uoresponsible uofor uothe uocontinued uousefulness uoof uoaccounting

uoreports?

A) Securities uoand uoExchange uoCommission uo(SEC)
B) Public uoCompany uoAccounting uoOversight uoBoard uo(PCAOB)
C) Financial uoAccounting uoStandards uoBoard uo(FASB)
D) All uoof uothe uoother uoanswers uoare uocorrect

Answer: u o D
uoDifficulty: uo1 uoEasy

Topic: An uoIntroduction uoto uoComplex uoBusiness uoStructures
Learning uoObjective: 01-01 uoUnderstand uoand uoexplain uothe uoreasons uofor uoand uodifferent
uomethods uoof uobusiness uoexpansion, uothe uotypes uoof uoorganizational uostructures, uoand uothe uotypes

uoof uoacquisitions.

Bloom's: Remember
u o AACSB: uoReflective

uoThinking uoAICPA: FN
uoReporting




3) A uobusiness uocombination uoin uowhich uothe uoacquired uocompany's uoassets uoand uoliabilities uoare
uocombined uowith uothose uoof uothe uoacquiring uocompany uointo uoa uosingle uoentity uois uodefined uoas:

A) Stock uoacquisition
B) Leveraged uobuyout
C) Statutory uoMerger

,D) Reverse uostatutory uorollup

,Answer: u o C
uoDifficulty: uo1 uoEasy

Topic: Organizational uoStructure uoand uoFinancial uoReporting
Learning uoObjective: 01-04 uoUnderstand uoand uoexplain uothe uodifferences uobetween uodifferent
uoforms uoof uobusiness uocombinations.

Bloom's: Remember
u o AACSB: uoReflective

uoThinking uoAICPA: FN
uoDecision uoMaking




4) In uowhich uoof uothe uofollowing uosituations uodo uoaccounting uostandards uonot uorequire uothat uothe
uofinancial uostatements uoof uothe uoparent uoand uosubsidiary uobe uoconsolidated?

A) A uocorporation uocreates uoa uonew uo100 uopercent uoowned uosubsidiary
B) A uocorporation uopurchases uo90 uopercent uoof uothe uovoting uostock uoof uoanother uocompany
C) A uocorporation uohas uoboth uocontrol uoand u o majority uoownership uoof uoan uounincorporated uocompany
D) A uocorporation uoowns uoless-than uoa uocontrolling uointerest uoin uoan uounincorporated uocompany

Answer: u o D
uoDifficulty: uo1 uoEasy

Topic: Organizational uoStructure uoand uoFinancial uoReporting
Learning uoObjective: 01-01 uoUnderstand uoand uoexplain uothe uoreasons uofor uoand uodifferent
uomethods uoof uobusiness uoexpansion, uothe uotypes uoof uoorganizational uostructures, uoand uothe uotypes

uoof uoacquisitions.

Bloom's: Remember
u o AACSB: uoReflective

uoThinking uoAICPA: FN
uoDecision uoMaking




During uoits uoinception, uoDevon uoCompany uopurchased uoland uofor uo$100,000 uoand uoa uobuilding uofor
uo$180,000. uoAfter uoexactly uo3 uoyears, uoit uotransferred uothese uoassets uoand uocash uoof uo$50,000 uoto uoa uonewly

uocreated uosubsidiary, uoRegan uoCompany, uoin uoexchange uofor uo15,000 uoshares uoof uoRegan's uo$10 uopar

uovalue uostock. uoDevon uouses uostraight-line uodepreciation. uoUseful uolife uofor uothe uobuilding uois uo30

uoyears, uowith uozero uoresidual uovalue. uoAn uoappraisal uorevealed uothat uothe uobuilding uohas uoa uofair uovalue

uoof uo$200,000.




5) Based uoon uothe uoinformation uoprovided, uoat uothe uotime uoof uothe uotransfer, uoRegan uoCompany uoshould
u o record:

A) Building uoat uo$180,000 uoand uono uoaccumulated uodepreciation.
B) Building uoat uo$162,000 uoand uono uoaccumulated uodepreciation.
C) Building uoat uo$200,000 uoand uoaccumulated uodepreciation uoof uo$24,000.
D) Building uoat uo$180,000 uoand uoaccumulated uodepreciation uoof uo$18,000.

Answer: u o D
uoDifficulty: uo2

uoMedium

Topic: Valuation uoof uoBusiness uoEntities; uoAccounting uofor uoInternal uoExpansion: uoCreating
uoBusiness uoEntities

Learning uoObjective: 01-04 uoUnderstand uoand uoexplain uothe uodifferences uobetween uodifferent
uoforms uoof uobusiness uocombinations.; uo01-03 uoMake uocalculations uoand uoprepare uojournal uoentries uofor

uothe uocreation uoof uoa uobusiness uoentity.

Bloom's: Understand

, uoAACSB: uoAnalytical uoThinking
uoAICPA: FN uoMeasurement

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