Question
The accounting treatment of an investment in an associate entity is to record the investment as an asset. The accounting treatment when a parent-subsidiary relationship
"The accounting treatment of an investment in an associate entity is to record the investment as an asset. The accounting treatment when a parent-subsidiary relationship exists is to merge the two sets of financial records. I think this different treatment is valid."
Justify whether you agree or disagree. You must explain why.
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Principles Of External Auditing
Authors: Brenda Porter, Jon Simon, David Hatherly
4th Edition
0470974451, 9780470974452
