If There Is a Balance in the Excess Loss Account

question 103

Short Answer

If there is a balance in the excess loss account when a subsidiary's stock is sold, the balance is recognized as
____________________ gain/income.

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Definitions:

Susceptible

Likely to be influenced or harmed by a particular thing.

Authority

The power or right to give orders, make decisions, and enforce obedience.

Same Outcome

Describes a situation where different actions or events lead to an identical result or conclusion.

Sanctions

Penalties imposed by governments or organizations on individuals, companies, or countries to encourage compliance with laws or regulations.