_____ Which of the following statements is false?
A) Consolidation entries are never posted to the general ledger.
B) Any balance in the Equity in Net Income (of subsidiary) account is always eliminated in the consolidation process.
C) Under the equity method, the parent's net income always equals consolidated net income when the subsidiary has always been profitable.
D) In consolidation, dividends declared by a 100%-owned subsidiary are always eliminated.
E) None of the above.
Correct Answer:
Verified
Q50: _ On 1/4/06, a subsidiary paid a
Q51: _ On 1/4/06, a subsidiary paid a
Q52: _ When a parent company uses the
Q53: _ When a parent company uses the
Q54: _ In the absence of knowing whether
Q56: _ Under the equity method, a parent
Q57: _ If a subsidiary has always been
Q58: _ Dividends declared by a subsidiary as
Q59: _ When a parent uses the equity
Q60: _ In the consolidated statement of retained
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