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When a parent uses the equity method throughout the year to account for investment in a subsidiary, which of the following statements is false?

A. Parent company net income equals controlling interest in consolidated net income

B. Parent company retained earnings equal consolidated retained earnings

C. Parent company total assets are different from consolidated total assets

D. Parent company revenues are different from consolidated revenues

E. Goodwill recorded separately on the parent company balance sheet equals consolidated goodwill

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9419721

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