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Question: In a father-son-grandson business combination,

In a father-son-grandson business combination, which of the following is true?
a. The father company always must have its total accrual-based income computed first.
b. The computation of a company’s accrual-based net income has no effect on the accrual-based net income of other companies within a business combination.
c. A father-son-grandson configuration does not require consolidation unless one company owns shares in all of the other companies.
d. All companies solely in subsidiary positions must have their accrual-based net income computed first within the consolidation process.


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