In the consolidation of intragroup transactions in the current period consideration should be given to the effects of transactions in previous periods.

Question

Quizplus · Accepted Answer

When consolidating intragroup transactions in the current period, it is important to consider the impact of transactions from previous periods to ensure accurate and complete consolidation. This is because the effects of previous transactions can have an impact on current period balances and financial statements. Therefore, the statement is true.

In the Consolidation of Intragroup Transactions in the Current Period