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ANSWER IN YOU OWN WORDS! Dont forget to provide references. Thank you. 7. Describe the different effects on consolidated financial statements when a parent and

ANSWER IN YOU OWN WORDS!

Dont forget to provide references.

Thank you.

7. Describe the different effects on consolidated financial statements when a parent and subsidiary engage in upstream versus downstream intercompany sales of depreciable fixed assets.

8. Describe the reason why the [ADJ] consolidating entry is necessary when preparing consolidated financial statements for a parent company that applies the cost method of pre-consolidation bookkeeping.

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