On a Worksheet for a Consolidated Balance Sheet,one Elimination Entry

question 153

Multiple Choice

On a worksheet for a consolidated balance sheet,one elimination entry:

• A)debits notes payable to supplier and credits notes receivable from vendor.
• B)debits notes payable to customer and credits notes receivable from customer.
• C)debits the subsidiary's stockholders' equity accounts and credits the parent company's Investment in Subsidiary account.
• D)debits the parent company's Investment in Subsidiary account and credits the subsidiary's stockholders' equity accounts.

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Definitions:

Labour Costs

The total expenditure borne by employers for the payment of wages, benefits, and taxes associated with the employment of labor.

Job Satisfaction

The level of contentment individuals feel with their job roles, encompassing aspects like work environment, duties, and compensation.

Employment Standards Legislation

Laws that define the rights and responsibilities of employees and employers, including minimum wage, working hours, and safety regulations.

Employee

describes an individual who works part-time or full-time under a contract of employment, contributing to the business in exchange for compensation.