The elimination process used in consolidation is intended to remove all unrealized intercorporate profits from the various

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The elimination process used in consolidation is intended to remove all unrealized intercorporate profits from the various asset categories.

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a. How might companies determine if there are unrealized intercorporate profits at year-end?

\(b\). What problems occur if unrealized intercorporate profits are not eliminated?

c. Will the adjustment process for unrealized intercorporate profits always result in a reduction of net income? Explain.

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