Select True $($T$)$ or False $($F$)$ for each of the following statements:

$\_\_\_\_\_\_\_\_\_$blank$1.$ A parent will recognize a gain or loss if it sells a portion of its investment in a subsidiary and maintains control after the sale.

$\_\_\_\_\_\_\_\_\_$blank$2.$ A parent sells a portion of its investment in a subsidiary and no longer maintains control. This sale of shares represents a remeasurement event for the investee.

$\_\_\_\_\_\_\_\_\_$blank$3.$ International financial reporting standards $($IFRS$)$ allow an option to value the noncontrolling interest with goodwill or to value the noncontrolling interest without goodwill.

$\_\_\_\_\_\_\_\_\_$blank$4.$ Consolidated net income represents the combined net income of the parent and subsidiary after subtracting the noncontrolling interest in the net income of the subsidiary.

$\_\_\_\_\_\_\_\_\_$blank$5.$ The total acquisition$-$date fair value of an acquired firm is the sum of the fair value of the controlling interest and the fair value of the noncontrolling interest.

$\_\_\_\_\_\_\_\_\_$blank$6.$ When control of a subsidiary is acquired on a date other than the first day of a fiscal year, excess amortization expenses are pro$-$rated to include only the post$-$acquisition period.

$\_\_\_\_\_\_\_\_\_$blank$7.$ For a mid$-$year acquisition following an equity method investment of the same company, the consolidated income statement will report consolidated revenues and expenses for the entire year.

$\_\_\_\_\_\_\_\_\_$blank$8.$ In a step acquisition where the parent previously held a noncontrolling interest in the acquired firm, the parent remeasures the prior interest to fair value.

$\_\_\_\_\_\_\_\_\_$blank$9.$ When a parent has control over a subsidiary with less than $100$ percent ownership, and thereafter increases its ownership, the parent remeasures the prior interest to fair value