Examlex
Match each item with the correct statement below.
-a body falling through air
Consolidation
The process of combining financial statements of a parent company with its subsidiaries to present as if the group of companies is a single economic entity.
Accumulated Depreciation
The total amount of depreciation expense that has been recorded for a long-term asset since its acquisition.
Consolidation Purposes
The process of combining the financial statements of a parent company and its subsidiaries into one comprehensive financial statement package, to present as if the group were a single entity.
Excess Amortizations
The amount by which amortization expense exceeds the amount necessary to amortize the cost of a tangible or intangible asset over its useful life.
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