Parent Company Owns 80% of Subco Ltd A)Option a
B)Option B
C)Option C
D)Option D

question 56

Multiple Choice

Parent Company owns 80% of Subco Ltd.Subco sells almost one-half of its output to Parent Company.How would these sales be reported in Subco's financial statements and Parent's consolidated financial statements? $\begin{array}{ll}\text { Subco's } & \text { Parent's Consolidated } \\\text { Statements } & \text { Statements }\\\text { A) Included } & \text { Included } \\\text { B) Included } & \text { Eliminated } \\\text { C) Eliminated } & \text { Included } \\\text { D) Eliminated } & \text { Eliminated }\end{array}$

• A)Option A
• B)Option B
• C)Option C
• D)Option D

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