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Consolidation Entry G
A specific journal entry made to eliminate intercompany transactions and balances when preparing consolidated financial statements.
Intra-entity Transfer
Refers to the movement of goods, services, or funds within different parts of the same entity.
Depreciable Asset
An asset that loses value over time due to usage, wear and tear, or obsolescence, and is subject to depreciation accounting to allocate its cost over its useful life.
Noncontrolling Interest
A portion of the equity in a subsidiary not owned by the parent company, representing minority shareholders' interest in the subsidiary's net assets.
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