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Acc 401 quiz 2 chap 3
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If an entity is not considered a VIE, the determination of consolidation is based on whether

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Selected Answer:

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one of the entities in the consolidated group directly or indirectly has a controlling financial interest (usually ownership of a majority voting interest) in the other entities.

Correct Answer:

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one of the entities in the consolidated group directly or indirectly has a controlling financial interest (usually ownership of a majority voting interest) in the other entities.

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