Multiple Choice
When there are intercompany sales of inventory during the year and a three-part consolidation worksheet is prepared,consolidation entries related to the intercompany sales:
I.Always are needed.
II.Are not needed if the entire inventory is resold to unrelated parties prior to the end of the year.
A) I
B) II
C) Both I and II
D) Either I or II
Correct Answer:
Verified
Correct Answer:
Verified
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