(Answered) Case - whos in chargerequired1 how should phoenix account

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Case - Who's in Charge?

Required:

1. How should Phoenix account for its acquisition of 100 percent of equity interestsin Darwin and Thunderbird: as a merger of entities under common control or as abusiness combination?

2. If the merger of Phoenix, Darwin, and Thunderbird is a business combination, which entity should be identified as the accounting acquirer?

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