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Which of the following statements concerning Type B reorganizations is not correct? a. Solely voting...

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Accounting

Which of the following statements concerning Type B reorganizations is not correct?

a. Solely voting preferred stock may be used.

b. The result is always a parent-subsidiary group.

c. Solely voting stock of a corporation controlling the acquiring corporation may be used in the transaction.

d. Cash may account for up to 20 percent of the consideration used to make the acquisition.

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