Question: Group project E With one or two other students, go to the library and locate Statement of Financial Standards No. 94, Consolidation of All Majority-Owned

Group project E With one or two other students, go to the library and locate Statement of Financial Standards No. 94, "Consolidation of All Majority-Owned Subsidiaries", published by the Financial Accounting Standard Board. In a report to your instructor answer questions such as: What does the standard require? Why did the FASB act on this topic? Why are "nonhomogeneous" subsidiaries included in the consolidated group? Why did one of the Board members dissent from the statement?

Describe some of the important background on this topic as given in the statement.

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