Examlex
Select the correct description for each of the abbreviations.
-CTS
Joint Ventures
A business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task or business activity.
Accounting Methods
The specific rules and procedures used by a company to prepare its financial statements, including cost, accrual, and cash basis methods.
Jointly Controlled Entities
A corporate structure where two or more parties have control and share responsibility, rights, and liabilities for the entity's activities.
Line-by-Line Method
The line-by-line method is an accounting technique used in consolidating the financial statements of a parent company and its subsidiaries, where each line item of the subsidiary’s financial statements is added to the parent’s corresponding items.
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