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Aladdin Ltd Sells Inventory for a Profit to Its Subsidiary

Question 1

Multiple Choice

Aladdin Ltd sells inventory for a profit to its subsidiary Jasmine Ltd to be used as machinery in Jasmine Ltd's production process.The consolidation worksheet of Aladdin Ltd with respect to this transaction only should ­not include:


A) a debit to sales.
B) a credit to cost of sales.
C) a credit to inventories.
D) a credit to machinery.

Correct Answer:

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