On Whose Books Are the Consolidating Adjusting Entries Recorded

question 34

Multiple Choice

On whose books are the consolidating adjusting entries recorded?

• A)In the general journal of both the parent and subsidiary companies
• B)In the general journal of both the parent company and on the consolidated worksheet
• C)In the general journal of both the parent and subsidiary companies and on the consolidated worksheet
• D)Only on the consolidated worksheet

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Definitions:

Corrective Action

Measures taken to identify, eliminate, and prevent recurrence of undesirable performances or non-conformities in a process.

Employee Morale

The overall outlook, attitude, satisfaction, and confidence that employees feel at work.

Glassdoor

A website where employees and former employees anonymously review companies and their management.

Job Description

A written statement that outlines the duties, responsibilities, qualifications, and conditions of a specific job position.