A Group of Entities Comprised of a Limited (Parent Entity),B

question 14

Multiple Choice

A group of entities comprised of A Limited (parent entity) ,B Limited (subsidiary entity) and C Limited (subsidiary entity) have the following Accounts receivable balances:
-A Limited $12 000
-B Limited $15 000
-C Limited $10 000
The consolidated financial statements show the following amount as the consolidated Accounts receivable balance:

• A)$12 000
• B)$13 000
• C)$25 000
• D)$37 000.

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Definitions:

Standard Account Forms

Preset templates used for recording financial transactions and keeping track of financial information in accounting.

Entry

A record of a financial transaction in an accounting system.

Gross Increases

Refers to the total increment in volume or quantity before any deductions like taxes or expenses are applied.

Business Activities

Various actions undertaken by a company as part of its operation, including investing, financing, and operating activities.