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Which of the Following Are Examples of Intercompany Balances and Transactions

Question 55

Multiple Choice

Which of the following are examples of intercompany balances and transactions that must be eliminated in preparing consolidated financial statements?
I.Security holdings
II.Interest and dividends
III.Sales and purchases


A) I,II
B) I,III
C) I,II,III
D) II

Correct Answer:

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