In computing consolidated E & P,dividends paid between group members are ignored.

Name: In computing consolidated E & P,dividends paid between group members are ignored.
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Question

Quizplus · Accepted Answer

There is no such concept as consolidated E & P.Each entity accounts for E & P on a separate basis,including its share of gain/loss from intercompany transactions,and decreasing E & P by its apportioned share of consolidated tax liabilities.

In Computing Consolidated E & P,dividends Paid Between Group Members