1. When consolidating the accounts of a parent and subsidiary in subsequent years, eliminating entry (O) recognizes total write-offs of subsidiary revaluations: A. For the current year. B. As of the beginning of the current year. C. As of the date of acquisition. D. As of the end of the current year.

Question

Jean Yoder

Business

11 January, 15:15

1. When consolidating the accounts of a parent and subsidiary in subsequent years, eliminating entry (O) recognizes total write-offs of subsidiary revaluations: A. For the current year. B. As of the beginning of the current year. C. As of the date of acquisition. D. As of the end of the current year.

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Answers (1)

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Lester · Answer 1

A. For the current year.

Explanation:

The process of c onsolidating accounts is when the financial results of companies are combined.

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