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Lowell owns 80% of Boston. At the end of the year when Lowell consolidates with...

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Question

Accounting

Lowell owns 80% of Boston. At the end of the year when Lowell consolidates with Boston, which of the following statement is true?

Multiple Choice

  • Parent company net income equals consolidated net income.

  • Total Equity equals parent's stockholders' equity.

  • Parent company total assets equals consolidated total assets.

  • Parent company's reported net income equals consolidated net income minus consolidated net income attributable to NCI.

  • Goodwill is recorded on the parents books

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