Which of the Following Is Required When Preparing a Consolidated

Multiple Choice

Which of the following is required when preparing a consolidated balance sheet on the date of the formation of a subsidiary by its parent company?

A) The assets and liabilities of the subsidiary must be revalued to fair value.
B) The goodwill from the business combination must be calculated.
C) The parent's investment account must be eliminated against the subsidiary's share capital.
D) The parent's investment account must be eliminated against the subsidiary's retained earnings.