11. When a parent uses the equity method throughout the year to account for investment in a subsidiary, which of the following statements is false before making adjustments on the consolidated worksheet? a. Parent company net income equals controlling interest in consolidated net income b. Parent company retained earnings equals consolidated retained earnings c. Parent company total assets equals consolidated total assets c. Parent company dividends equals consolidated dividends 12. In a step acquisition, using the acquisition method which of the following statements is false? a. The acquisition method views a step acquisition essentially the same as a single step acquisition b. Income from subsidiary is computed by applying a partial year for a new purchase acquired during the year c. Income from subsidiary is computed for the entire year for a new purchase acquired during the year d. Obtaining control through a step acquisition is a significant re-measurement event 13. All of the following statements regarding the sale of subsidiary shares are true except which of the following? a. The use of specific identification based on serial number is acceptable b. The use of the FIFO assumption is acceptable c. The use of the averaging assumption is acceptable d. The use of specific LIFO assumption is acceptable