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:

Benefit

An advantage, improvement, or gain received from a product or service, contributing to the satisfaction or well-being of a customer.

Tennis Racquet

A sports equipment specifically designed for the game of tennis, consisting of a handled frame with an open hoop across which a network of strings or catgut is stretched tightly.

Economic Need

A requirement for something essential related to the well-being or financial stability of an individual or society.