Ding intra-group transactions is correct? Transactions that only create a balance between the parent and subsidiary need

Fantastic news! We've Found the answer you've been seeking!

Question:

Ding intra-group transactions is correct?

Transactions that only create a balance between the parent and subsidiary need not be eliminated because there is no effect on group profit/loss.

Only upstream transactions need to be eliminated.

Transactions that result in profits/losses being carried in assets of the parent or subsidiary need to be eliminated.

Intra-group transactions are eliminated since they are not recognized by the Australian Taxation Office.

Related Book For answer-question

International Accounting

ISBN: 978-0078110955

3rd Edition

Authors: Timothy Doupnik, Hector Perera

See More Books

Posted Date: Oct 24, 2023 08:25 AM

See More Questions

write a abstract on this paper ? Introduction Governments require money to run their operations and pay civil servants who ensure that services to the population are delivered. The money that states...
Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
What is the benefit to a company from a securities underwriter? They study the market and advise companies on where to set their IPO share price. They help companies to reduce the risk associated...
The migration of Asian carp into the i Great Lakes must be stopped. Two mutually exclusive alternatives with different useful lives have been proposed to keep the carp from travelling further north:...
Sketch a contour diagram for the function with at least four labeled contours. Describe in words the contours and how they are spaced. f(x, y) = x + y + 1
Understand the ways in which value can be created at various places in the organization with the aid of the value chain.
1. Plot the raw data on arrivals for each transportation mode against time, all on the same graph. Which mode is growing the fastest? Which the slowest? 2. Plot the logarithm of arrivals for each...
Please assist in solving these questions and some steps to solve this efficiently. Thank you Secon 8.4: exercise 22 In exercises 124. determine whether the series is convergent or divergent. 22. iblf...
Emily Jackson (Social Security number 765-12-4326) and James Stewart (Social Security number 466-74-9932) are partners in a partnership that owns and operates a barber shop. The partnerships first...
Whether a tax is levied on sellers or buyers, buyers and sellers usually share the burden of tax. true or false
Compare the house and enhancement data, illustrate the three categories of each, and determine where you will find these data.
Smith Co had retained earnings of 60,000 at the end of the current year. For the current year, the income was 30,000 and dividends were 10,000. What was the balance in the retained earnings at the...
1.What's the equilibrium price? How did you get it? 2.At $5, is there a shortage or a surplus? How much? How can you tell? Price -------------------------------- $4 --------------$5 -----------------...
The following data were taken from the statement of realization and liquidation of CRASHED CO. Assets to be realized 1,375,000 Assets acquired 750,000 Supplementary credits 2,800,000 Assets realized...
Ahmad Company has 85% Gross profit ratio and 15% cost of sales. Based on your analysis to the mentioned information; please comment on the reasons that might played a role in increasing the company's...
Calculate the commission earned by Martinez in January ( name query Martinez Jall Commission ) . Remember to restrict by " Martinez ' rather than employee number ( i .e . , You will need to join two...
State whether each statement is true or false. If false, give a reason. {purple, green, yellow} = {green, pink, yellow}
When an entity chooses the revaluation model as its accounting policy for measuring property, plant, and equipment, which of the following statements is correct? a. When an asset is revalued, the...
In selecting an accounting policy for a transaction, which of the following is the first level within the hierarchy of guidance that should be considered? a. The most recent pronouncements of other...
Melbourne Inc. became involved in a tax dispute with the national tax authority. Melbournes legal counsel indicates that there is a 70 percent likelihood that the company will lose this dispute and...
Explain why Schor believes that more leisllred, less consumerist lttestyles are structurally blocked." Why can't peoplesimply choose to work less and enjoy more free time? Do you agree that working...
Would It be good for us as individuals and for society as a whole to escape from the culture of excessive consumption? Is this goal possible? If so, how? If not, why not?
Understand and discuss the specific goals of environmental analysis.

Ding intra-group transactions is correct? Transactions that only create a balance between the parent and subsidiary need

Question:

Expert Answer:

The detailed answer for the above question is prov... View the full answer

International Accounting

Students also viewed these accounting questions