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A U.S.-based company has an English partnership it owns 50%. The partnership is 95% of the assets of the U.S.-based company, which is primarily a holding company.

How would this be reported in the U.S. for financial reporting purposes?

If the company was later acquired (the holding company), by a UK company, what would be the procedures for financial accounting that would need to be undertaken?

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M945157

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