Before the Accounts of the Parent and Subsidiary Can Be

question 22

Multiple Choice

Before the accounts of the parent and subsidiary can be added together to give the total net assets under the control of the economic entity,it is necessary to eliminate:

• A)the parent's "Investment in subsidiary" asset account
• B)the subsidiary's "Investment in parent" asset account
• C)the equity in the subsidiary which the investment represents
• D)both A and C

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