question archive The consolidation treatment of profits on inventory transfers that occurred before the business combination depends on whether: the companies were independent at that time

The consolidation treatment of profits on inventory transfers that occurred before the business combination depends on whether: the companies were independent at that time

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The consolidation treatment of profits on inventory transfers that occurred before the business combination depends on whether:

    1. the companies were independent at that time.
    2. the sale transaction was the result of arm's-length bargaining.
  1. I
  2. II
  3. Both I and II
  4. Neither I nor II

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