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Which of the following statements is incorrect? a. There are no consolidated ledger accounts b. Consolidation worksheet entries are posted to the ledger accounts of
Which of the following statements is incorrect? a. There are no consolidated ledger accounts b. Consolidation worksheet entries are posted to the ledger accounts of the parent and its subsidiary/ies. c. A consolidation worksheet facilitates the process of adding together the financial statements of the parent and its subsidiaries. 1. Where consolidated financial statements are prepared over a number of years, consolidation entries need to be made every time a consolidation worksheet is prepared
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