Question
In a multilevel ownership structure, the general process of consolidation is to start making eliminating entries with the subsidiary farthest removed from the parent company
In a multilevel ownership structure, the general process of consolidation is to start making eliminating entries with the subsidiary farthest removed from the parent company and then move up the levels until the direct subsidiary is consolidated with the parent. Why is this the accepted procedure?
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Accounting for Governmental and Nonprofit Entities
Authors: Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus
16th Edition
78110939, 978-0078110931
