The Posting Reference Column of the Journal Provides a Cross-Reference

question 33

Multiple Choice

The Posting Reference column of the journal provides a cross-reference between the

• A) ledger and accounts.
• B) journal and ledger.
• C) ledger and financial statements.
• D) journal and financial statements.

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Definitions:

Non-controlling Interest

A shareholder's equity in a subsidiary that is not attributable to the parent company, representing minority ownership.

Consolidated Net Income

The total earnings of a corporation, after tax, including earnings from subsidiaries, before distributing dividends.

Cost Method

An accounting approach where investments are recorded at their acquisition cost, without adjustment for increases or decreases in market value.

Goodwill

An intangible asset arising when a company acquires another for more than the fair value of its net identifiable assets.