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Ajak Corporation owns 85% of the single class of Utech Corporation stock. Utech Corporation owns 35% of Tech Corporation. Ajak Corporation also owns 50% of Tech Corporation, and Tech Corporation owns 75% of Baxter Corporation.
a. Ajax, Tech, Utech and Baxter Corporations are an affiliated group.
b. Ajax, Tech, and Baxter Corporations are an affiliated group.
c. Ajax, Tech and Utech Corporations are an affiliated group.
d. none of the above
As the U.S considers the adoption of IFRS, changes exist between presentation and disclosure in current U.S GAAP and IFRS. Based on your research, what are some of the similarities and differences between U.S. GAAP and IFRS?
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