Multiple Choice
The consolidation process consists of all the following except:
A) Combining the financial statements of two or more legally separate companies.
B) Eliminating intercompany transactions and holdings.
C) Closing the individual subsidiary's revenue and expense accounts into the parent's retained earnings.
D) Combining the accounts of separate companies,creating a single set of financial statements.
Correct Answer:
Verified
Correct Answer:
Verified
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