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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 E

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Advanced Financial Accounting 13th E

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Advanced Financial Accounting

TEST BANK For Advanced Financial Accounting 13th Edition By Theodore Christensen| Verified Chapter's 1 - 20 | CompleteTEST BANK For Advanced Financial Accounting 13th Edition By Theodore Christensen| Verified Chapter's 1 - 20 | CompleteTEST BANK For Advanced Financial Accounting 13th Edition By The...

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test bank for advanced financial accounting 13th
test bank for advanced financial accounting
test bank for advanced financial
advanced financial accounting 13th edition
advanced financial accounting

Institution Advanced Financial Accounting 13th E
Course Advanced Financial Accounting 13th E

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Test Bank for Advanced Financial Accounting
a a a a a

13th Edition
a a a

By Theodore Christensen
a a

,TEST BANK FOR
a a

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

Chapter a1 Intercorporate a Acquisitions a and a Investments a in a Other a Entities

1) Assuming a no a impairment a in a value a prior a to a transfer, a assets atransferred a by aa a parent
a company a toaanother a entity a it a has a created a should a be a recorded a by athe a newly a created a entity

aat a the a assets':

A) cost a to a the a parent a company.
B) book a value a on athe a parent a company's a books a at a the a date a of a transfer.
C) fair a value a at a the a date a of atransfer.
D) fair avalue aof aconsideration aexchanged aby athe anewly acreated aentity.

Answer: a B
a Difficulty: a1

aEasy

Topic: aInternal aExpansion: aCreating aa aBusiness aEntity; aValuation aof aBusiness aEntities
a Learning aObjective: 01-01 a Understand a and a explain a the a reasons a for a and a different a methods

a of abusiness a expansion, a the a types a of a organizational a structures, a and a the a types a of

a acquisitions.; a 01 a-03 aMake a calculations a and a prepare a journal a entries a for a the a creation a of aa

a business a entity.

Bloom's: Remember
a AACSB: a Reflective

aThinking aA ICPA: FN
a Decision a Making

2) Given athe aincreased adevelopment aof acomplex abusiness astructures, awhich aof athe
afollowingar egulators ais aresponsible a for athe acontinued a usefulness a of aaccounting a reports?

A) Securities a and a Exchange a Commission a (SEC)
B) Public a Company a Accounting a Oversight a Board a (PCAOB)
C) Financial a Accounting a Standards a Board a (FASB)
D) All a of athe a other a answers a are a correct

Answer: a D
a Difficulty: a1

aEasy

Topic: An a Introduction a to a Complex a Business a Structures
Learning aObjective: 01-01 aUnderstand aand aexplain athe areasons afor aand adifferent amethods
aofabusiness a expansion, a the a types a of a organizational a structures, a and a the a types a of

aacquisitions.

Bloom's: Remember
a AACSB: a Reflective

aThinking aA ICPA: FN
aReporting

3) A abusiness acombination ain awhich athe aacquired acompany's aassets aand aliabilities aare
acombinedaw ith athose a of athe aacquiring a company ainto a a a single a entity ais adefined aas:

,A) Stock aacquisition
B) Leveraged abuyout
C) Statutory aMerger
D) Reverse a statutory a rollup

, Answer: a C
a Difficulty: a1

aEasy

Topic: Organizational a Structure a and a Financial a Reporting
Learning aObjective: 01-04 aUnderstand aand aexplain athe adifferences abetween adifferent aforms
aofab usiness a combinations.

Bloom's: Remember
a AACSB: a Reflective

aThinking aA ICPA: FN
a Decision a Making

4) In a which a of athe a following a situations a do a accounting a standards a not a require a that
a the a financialastatements a of athe a parent a and a subsidiary abe a consolidated?

A) A acorporation acreates aa anew a100 apercent a owned asubsidiary
B) A a corporation a purchases a 90 a percent a of athe a voting a stock a of a another a company
C) A a corporation a has a both a control a and a majority a ownership a of aan a unincorporated a company
D) A a corporation a owns a less-than a a a controlling a interest a in a an a unincorporated a company

Answer: a D
a Difficulty: a1

aEasy

Topic: Organizational a Structure a and a Financial a Reporting
Learning aObjective: 01-01 aUnderstand aand aexplain athe areasons afor aand adifferent amethods
aofabusiness a expansion, a the a types a of a organizational a structures, a and a the a types a of

aacquisitions.

Bloom's: Remember
a AACSB: a Reflective

aThinking aA ICPA: FN
a Decision a Making

During aits ainception, aDevon aCompany apurchased aland afor a$100,000 aand aa abuilding afor
a$180,000. aAfter aexactly a3 ayears, ait atransferred a these aassets aand a cash aof a$50,000 ato aa anewly

acreated asubsidiary,aR egan a Company, a in a exchange afor a 15,000 a shares a of a Regan's a $10 a par a value

astock. a Devon a uses astraight-line a depreciation. a Useful a life a for a the a building a is a 30 a years, a with

a zero a residual a value. a An a appraisal arevealed a that a the a building a has aa a fair a value a of a$200,000.

5) Based a on athe a information a provided, a at a the a time a of a the a transfer, a Regan a Company a should
a record:

A) Building a at a $180,000 a and a no a accumulated a depreciation.
B) Building a at a $162,000 a and a no a accumulated a depreciation.
C) Building a at a $200,000 a and a accumulated a depreciation a of a $24,000.
D) Building a at a $180,000 a and a accumulated a depreciation a of a $18,000.

Answer: a aD
aDifficulty: a 2

a Medium

Topic: Valuation a of a Business a Entities; a Accounting a for a Internal a Expansion: a Creating
a Business a Entities

Learning aObjective: 01-04 aUnderstand aand aexplain athe adifferences abetween adifferent aforms
a of abusiness a combinations.; a 01-03 a Make a calculations a and a prepare a journal a entries a for a the

a creation a of aa a business a entity.

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Exam (elaborations)

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

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