When the Parent Entity Has a Surrogate Key,the Enforcement Actions

question 64

True/False

When the parent entity has a surrogate key,the enforcement actions are the same for both parent and child.

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Definitions:

Intra-Entity Transactions

Transactions that occur within the same legal entity, often between departments or divisions, which may require elimination during consolidation.

Net Income

The remaining profit for a company after deducting taxes and expenses from the revenue.

Consolidation Entry

A journal entry used in the preparation of consolidated financial statements to eliminate intercompany transactions and balances.