Which of the Following Statements Is Incorrect

question 48

Multiple Choice

Which of the following statements is incorrect?

• A) Where consolidated financial statements are prepared over a number of years, consolidation entries need to be made every time a consolidation worksheet is prepared.
• B) Consolidation adjusting entries affect the ledger accounts of the parent and subsidiaries.
• C) A consolidation worksheet is used to help the process of adding together the financial statements of the parent and its subsidiaries.
• D) There are no consolidated ledger accounts.

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Definitions:

Palpation

A method of feeling with the hands to examine the size, consistency, and location of certain body parts.

Stethoscope

A stethoscope is a medical device used by healthcare professionals to listen to internal sounds of the body, such as heartbeats and lung sounds.

X-Ray Machine

A device used in radiography to create images of the body's internal structures using electromagnetic radiation.

Xiphoid Process

The smallest and lowermost part of the sternum, cartilaginous in young individuals but ossified in adults.