Question: When a subsidiary is acquired sometime after the first day of the fiscal year, which of the following statements is true? Help Save & Exit

When a subsidiary is acquired sometime after the first day of the fiscal year, which of the following statements is true?
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Income from subsidiary is not recognized until there is an entire year of consolidated operations.
100%
Income from subsidiary is recognized from date of acquisition to year-end.
Excess cost over acquisition value is recognized at

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