When an Interest Bearing Loan Is Advanced by a Parent

question 4

True/False

When an interest bearing loan is advanced by a parent to a subsidiary, there is no tax effect consolidation entry required as assets and liabilities are reduced equally.

---

Definitions:

Assessment Report

The “deliverable” or “end product” of the assessment process. Its purpose is to synthesize an assortment of assessment techniques so that a deeper understanding of the examinee is obtained and recommended courses of action can be offered.

Educational Services

Programs or interventions designed to teach or enhance learning among students or participants.

Demographic Information

Data collected regarding the characteristics of populations, such as age, race, gender, income, and education.

Ethnic Background

A person's heritage, including the cultural traditions, language, and history of their ancestors.