Which of the following statement(s) apply when consolidating Statements of financial position? (a) All inter-company balances should
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Which of the following statement(s) apply when consolidating Statements of financial position?
(a) All inter-company balances should be cancelled
(b) The group share of the whole of subsidiary’s profit is included within group profit
(c) Inter-company profit should be eliminated unless it is realised by sale to an outsider
(d) Subsidiary’s asset values need to be updated at the end of each accounting period
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Related Book For
Financial Accounting An Introduction
ISBN: 9780273737650
2nd Edition
Authors: Mr Barry Elliott, Mr Augustine Benedict
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