( Accounting : Financial statements )
When a business registers for Goods and Services Tax, it has to choose whether to
account for the tax on a cash, accrual, or hybrid basis.
Identifiable net assets of the subsidiary would be valued on a hybrid basis, rather than at full current fair values.
A hybrid basis is a system of accounting that combines some of the features of cost basis with some
of the features of accrual basis.
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