If a subsidiary uses pushdown accounting, what is the effect on consolidation eliminating entries at the date of acquisition? Select one: A. It is not necessary to revalue the subsidiary's net assets to fair value. B. No effect C. It is not necessary to eliminate the subsidiary's equity accounts. D. An additional entry is required to reverse the pushdown accounting entry.

Question 2 Incorrect Mark 0.00 out of 2.00 P Flag question Edit question If a subsidiary uses pushdown accounting, what is the effect on consolidation eliminating entries at the date of acquisition? Select one: O A. It is not necessary to revalue the subsidiary's net assets to fair value. B. No effect X C. It is not necessary to eliminate the subsidiary's equity accounts. O o D. An additional entry is required to reverse the pushdown accounting entry