Question 34

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In a consolidated statements workpaper,which items are carried forward from one section to another?

Select one:

a. Parents retained earnings,but not Subsidiary

b. Each section on the workpaper is separate,so no numbers are carried forward

c. The total of the income section to the retained earnings section and then the total of the retained earnings section to the balance sheet section.

d. The eliminations must balance for each section in order to carry them forward.

q2. Under the equity method of accounting, a parent company's journal entry to record a dividend declared by the subsidiary includes a debit to the Cash account and a credit to the investment account

Select one:

True

False