The Consolidation Process Consists of All the Following Except

question 21

Multiple Choice

The consolidation process consists of all the following except:

• A)Combining the financial statements of two or more legally separate companies.
• B)Eliminating intercompany transactions and holdings.
• C)Closing the individual subsidiary's revenue and expense accounts into the parent's retained earnings.
• D)Combining the accounts of separate companies,creating a single set of financial statements.

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Definitions:

Esophagus

The muscular tube that connects the throat (pharynx) with the stomach, allowing for the passage of food.

Trachea

The windpipe, a tube that connects the larynx to the bronchi of the lungs, providing a path for air to enter and exit the lungs.

Thoracic Cavity

The chamber of the body protected by the rib cage, containing the lungs and heart among other organs.

Liver

A vital organ that performs critical functions including detoxification, protein synthesis, and production of biochemicals necessary for digestion.