Which of the Following Statements About the Direct Approach to Consolidation

question 43

Multiple Choice

Which of the following statements about the direct approach to consolidation is true?

• A)It can be used for both simple and complex consolidations.
• B)It is a more methodical and less intuitive approach than the worksheet approach.
• C)The starting point for preparing the consolidated financial statements is the financial statements for each of the parent and subsidiary companies.
• D)The starting point for preparing the consolidated financial statements is the trial balance for each of the parent and subsidiary companies.

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Definitions:

Francis Crick

A British molecular biologist, biophysicist, and neuroscientist, known for co-discovering the structure of DNA.

Southern Blotting

Southern blotting is a molecular biology technique used to detect specific DNA sequences within a DNA sample by transferring DNA from a gel to a membrane and then probing it with a DNA probe.

Nitrocellulose Filter

A porous sheet made from nitrocellulose used in various laboratory applications, such as filtering particles or for blotting techniques in molecular biology.

DNA

Deoxyribonucleic acid, or DNA, is the molecule containing genetic directives crucial for the growth, development, activity, and reproduction in all identified living organisms as well as numerous viruses.