For entities wanting to use the cost model of accounting,the revaluation of a subsidiary's assets would be undertaken in the:
A)subsidiary's records
B)parent entity's records
C)consolidation worksheet
D)notes to the consolidated financial statements.

Question

Quizplus · Accepted Answer

The revaluation of a subsidiary's assets under the cost model is typically reflected in the consolidation worksheet, as it is part of the process of preparing consolidated financial statements.

For Entities Wanting to Use the Cost Model of Accounting,the