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Pivot Corporation owns 80% of the voting stock of Speegee Company. It then acquires the remaining 20% of Speegee's voting stock. Which statement is true concerning reporting for the acquisition of the remaining 20%, if the acquisition is reported as a merger?
Problem A. If the carrying value of the purchased noncontrolling interest is greater than its acquisition cost, a gain is recognized in income.
Problem B. The assets and liabilities of Speegee are revalued to fair value.
Problem C. If the acquisition cost is greater than the fair value of identifiable assets acquired, goodwill is recognized.
Problem D. If the carrying value of the purchased noncontrolling interest is less than its acquisition cost, equity decline
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