Andronico Limited provided an advance of $500 000 to its subsidiary Galactico Limited.On consolidation the following adjustment is needed in relation to this intragroup advance:
A) no adjustment needed
B) DR Advances to subsidiaries $500 000 CR Advances from parent $500 000
C) DR Advances from parent $500 000 CR Advances to subsidiaries $500 000
D) DR Advances from parent $500 000 CR Cash $500 000
Correct Answer:
Verified
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