Paul Limited Provided an Advance of $150 000 to Its

question 4

Multiple Choice

Paul Limited provided an advance of $150 000 to its subsidiary Caitlin Limited. On consolidation, the following adjustment is needed in relation to this intragroup advance:

• A) no adjustment is needed.
• B) DR Advances to Caitlin Ltd $150 000 CR Advances from Paul Ltd $150 000
• C) DR Advances from Paul Ltd $150 000 CR Advances to Caitlin Ltd $150 000
• D) DR Advances from Paul Ltd $150 000 CR Cash $150 000

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Definitions:

Farming Community

A group of people living in the same locality and engaging in agriculture, sharing certain interests, practices, and responsibilities.

Neolithic Settlement

Ancient communities formed during the Neolithic period, marked by the beginnings of agriculture, the domestication of animals, and the development of permanent villages.

Jordan River Valley

A geographical area in the Middle East that serves as a significant water source and historical region.

Central Mexico

A region in the heart of Mexico characterized by its rich history, cultural significance, and geographical features, including the Mexican Plateau and surrounding mountain ranges.