14. Under the equity method of accounting, a parent company uses the Retained Earnings of Subsidiary ledger

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14. Under the equity method of accounting, a parent company uses the Retained Earnings of Subsidiary ledger account for a subsidiary:

a. For closing entries only.

b. For dividends declared by the subsidiary only.

c. For both dividends declared by the subsidiary and closing entries.

d. For neither dividends declared by the subsidiary nor closing entries.

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